5331 S Calumet Ave 4 Unit Apartment Building $1,503,034 CAD ($375,758 CAD/Unit) 8.45% Cap Rate Chicago, IL 60615

Fantastic four-unit, 2007 construction, owner-occupant investment opportunity in appreciating east Washington Park! Unit 4 has been rehabbed to feature modern improvements to be comparable to other new construction (in the area. All four units are 3-bed / 2-bath and three units have in-unit laundry hook-ups. All units have hardwood and tile throughout, modern appliances, gas-forced-heat / central air, granite counter tops, in-unit hot water tanks, and individual utilities. The residences are larger than most of the new construction in the area, ranging in size between 1,200 and 1,400 SF and feature separate dining & living areas.
The property has had extensive improvements in the last year to the interior and exterior (see detailed building improvement list from broker). Other notable features: steel porches with individual outdoor spaces, sump pump and grinder pump, breaker panels in-unit, five exterior parking spaces with automatic gate, common coin laundry, new carpet and paint in common hallway, granite countertops and islands, separate living and dining areas, and updated lighting and bathroom fixtures. All kitchens have refrigerators, dishwashers, gas stoves, built-in microwaves, garbage disposals, and condo-quality cabinetry. The current leases are below market: Unit 1 - $2000, Unit 2 - $2,250 (April 1 lease at 5333 S Calumet unit 2 recently signed to highly qualified tenant at $2250), Unit 3 - $2350, and Unit 4 - $2850. This is a fantastic opportunity for an
owner-occupant to occupy one unit and benefit from the income from the other three units.