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6229-31 W Belmont Ave 6 Unit Apartment Building Offered at $1,236,682 CAD at a 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 |
$122,980
|
$22.99
|
| Other Income |
$7,841
|
$1.47
|
| Vacancy Loss |
$6,541
|
$1.22
|
| Effective Gross Income |
$124,280
|
$23.23
|
| Taxes |
$18,183
|
$3.40
|
| Operating Expenses |
$34,924
|
$6.53
|
| Total Expenses |
$53,107
|
$9.93
|
| Net Operating Income |
$71,173
|
$13.30
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $122,980 |
| Annual Per SF | $22.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,841 |
| Annual Per SF | $1.47 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,541 |
| Annual Per SF | $1.22 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $124,280 |
| Annual Per SF | $23.23 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,183 |
| Annual Per SF | $3.40 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $34,924 |
| Annual Per SF | $6.53 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $53,107 |
| Annual Per SF | $9.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $71,173 |
| Annual Per SF | $13.30 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Laundry Facilities
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 (84)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $90,579 CAD | |
| Land Assessment | $26,899 CAD | Annual Taxes | $18,183 CAD ($3.40 CAD/SF) |
| Improvements Assessment | $63,680 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$26,899 CAD
Improvements Assessment
$63,680 CAD
Total Assessment
$90,579 CAD
Annual Taxes
$18,183 CAD ($3.40 CAD/SF)
Tax Year
2024
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6229-31 W Belmont Ave
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