1301 S Avers Ave - Apartments FOR SALE


Chicago, IL 60623- Lawndale
$600,000 USD
773-293-5060
1301 S Avers Ave, Chicago, IL for Sale
$600,000 USD
Apartments - FOR SALE
1/7
null | 7.35% Cap Rate

1301 S Avers Ave
Chicago, IL 60623
Lawndale


HIGHLIGHTS

  • Desirable Unit Mix: Four (4) 2BD/1BA & Three (3) 3BD/1BA
  • Individual Furnaces & Hot Water Heaters
  • Majority Copper Plumbing
  • Newly Silver Coated Roof
  • Breaker Boxes In Each Unit
  • Value Add 7th Garden Unit

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase the sale of 1301 S. Avers, a vintage seven (7) unit walk-up located in Chicago’s historic Lawndale neighborhood. The property sits on the corner intersection of 13th Street and Avers, and is tucked away on a quiet, tree-lined street. Additionally, the property conveniently sits just one block from Roosevelt Rd, which provides tenants with an abundance of public transit and retail options. Furthermore, the property is roughly 10-minute walk to Chicago's Blue Line, "El" train station at Pulaski and the I-290 Express, which both provide tenants a quick and easy commute to Chicago's downtown (roughly 10 minutes). 1301 S. Avers is comprised of three (3) 3bd/1ba units and four (4) 2bd/1ba units. All of which, however, are incredibly spacious. Recent capital improvements to the building consist of, but are not limited to: individual furnaces with & individual water heaters, a new silver-coated roof, a re-wired electrical service with breaker boxes in-unit, and updated copper plumbing. 1301 S. Avers presents an investor with a unique opportunity to acquire a stabilized, cash-flowing asset with a significant value-add play. From day one, an investor will realize a cap rate over 7%. Through improved leasing & management and raising rents to market rate levels, an investor has the opportunity to achieve a cap rate of 10.47% and a cash return of over 19%.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$71 USD /SF

# OF UNITS

7

PRICE/UNIT

$85,714

CAP RATE

7.35%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

RT-4, Chicago

APN/PARCEL ID

16-23-110-001-0000

ASK ABOUT THIS PROPERTY

Noah ClarkKiser GroupMore Info
773-293-5060

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Noah ClarkKiser GroupMore Info
773-293-5060

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