1228 Oak Ave - Apartments FOR SALE


Evanston, IL 60202
$1,100,000 USD
855-624-2078
1228 Oak Ave, Evanston, IL for Sale
$1,100,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

1228 Oak Ave
Evanston, IL 60202


HIGHLIGHTS

  • Top-rated schools within 0.5 miles
  • Under 1 mile to Downtown Evanston — close to the Davis St/Sherman Ave core, with shops, dining, and the CTA Purple Line at Davis St Station
  • 1.8 miles to Northwestern University — a 5-minute drive to campus, a major driver of steady rental demand in this submarket
  • 13 miles to Downtown Chicago / The Loop — roughly 20 minutes by car or 26 minutes via Metra, making it commutable for Chicago-based renters.

OVERVIEW

This legal six-unit multifamily property presents a value-add investment opportunity in the highly desirable Evanston market. With new management and continued rental growth, the property has the potential to achieve the cap rate in the 8%–9% range, offering investors strong cash flow and appreciation. The building consists of six apartments with functional layouts that appeal to a broad tenant base. Several units have been renovated within the last two years, featuring modern kitchens, updated bathrooms, new flooring, and other interior improvements that enhance tenant appeal and rental value. These upgrades help minimize future capital expenditures while supporting strong occupancy and tenant retention. New bathrooms and kitchens, fresh paint. Additionally, the property is just a 1-minute walk from a neighborhood park, providing residents with convenient access to green space and recreational amenities. The property is conveniently located just a 5-minute walk from the Dempster Street Purple Line CTA station, approximately 0.4 miles away. It is also near the Evanston Davis Street Metra station, about 0.7 miles away, roughly a 3-minute drive or 15- minute walk. Additionally, the property is just a 1-minute walk from the neighborhood park, offering residents easy access to green space and nearby amenities.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$214 USD /SF

# OF UNITS

6

PRICE/UNIT

$183,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,008 SF

ZONING

-

APN/PARCEL ID

11-19-101-015-0000

ASK ABOUT THIS PROPERTY

Safwan PatelYoumu VenturesMore Info
855-624-2078

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Safwan PatelYoumu VenturesMore Info
855-624-2078

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.