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6229-31 W Belmont Ave 6 Unit Apartment Building $1,225,858 CAD ($204,310 CAD/Unit) 5.76% Cap Rate Chicago, IL 60634
Investment Highlights
- 6 Rear Surface Parking Spaces
Executive Summary
6229-31 W. Belmont is a 6-unit multifamily asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Belmont Cragin neighborhood. The building features six residential units, consisting of two 1-bedroom apartments and four 2-bedroom apartments, offering a desirable and efficient unit mix for this renter-driven corridor. Built in 1959 with 4,900 rentable square feet, the property includes 6 rear surface parking spaces and features a clean, functional layout supported by tenant-paid electric and cooking gas and a building-owned laundry setup. Positioned along the active Belmont Avenue commercial strip, the asset benefits from strong neighborhood amenities, public transit access, and consistent rental demand, making it a compelling opportunity for investors seeking stable cash flow with operational upside.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$121,904
|
$22.79
|
| Other Income |
$7,772
|
$1.45
|
| Vacancy Loss |
$6,484
|
$1.21
|
| Effective Gross Income |
$123,193
|
$23.03
|
| Taxes |
$18,024
|
$3.37
|
| Operating Expenses |
$34,619
|
$6.47
|
| Total Expenses |
$52,642
|
$9.84
|
| Net Operating Income |
$70,550
|
$13.19
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $121,904 |
| Annual Per SF | $22.79 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,772 |
| Annual Per SF | $1.45 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,484 |
| Annual Per SF | $1.21 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $123,193 |
| Annual Per SF | $23.03 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,024 |
| Annual Per SF | $3.37 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $34,619 |
| Annual Per SF | $6.47 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $52,642 |
| Annual Per SF | $9.84 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $70,550 |
| Annual Per SF | $13.19 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 700 |
| 2+1 | 4 | - | 850 - 900 |
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Numbers | Total Assessment | $91,316 CAD (2025) | |
| Land Assessment | $27,118 CAD (2025) | Annual Taxes | $18,024 CAD ($3.37 CAD/SF) |
| Improvements Assessment | $64,198 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Numbers
Land Assessment
$27,118 CAD (2025)
Improvements Assessment
$64,198 CAD (2025)
Total Assessment
$91,316 CAD (2025)
Annual Taxes
$18,024 CAD ($3.37 CAD/SF)
Tax Year
2024
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6229-31 W Belmont Ave
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