18064 Martin Ave - Apartments FOR SALE


Homewood, IL 60430
$845,000 USD
773-230-8055
18064 Martin Ave, Homewood, IL for Sale
$845,000 USD
Apartments - FOR SALE
1/11
null | 7.34% Cap Rate

18064 Martin Ave
Homewood, IL 60430


HIGHLIGHTS

  • Vibrant downtown Homewood location
  • Versatile Mixed-Use Property
  • Significant capital improvement to all major components
  • Meticulously Maintained and Upgraded
  • Turnkey Investment Opportunity

OVERVIEW

Embrace the opportunity to own a meticulously maintained 5-unit mixed-use property with a rich history and promising growth potential. This iconic property, located in the vibrant South Chicago Suburbs area, has been a cherished asset in the seller's family for over 50 years and is now available for the first time on the market. With a legacy of distinction and recent upgrades, including a new roof in 2020, new windows in 2021, and new central HVAC in all units in 2019, this turnkey investment opportunity offers the potential to enhance apartment rents to market rates, unlocking significant value and long-term prosperity. Notably, Bergstein's Deli signed a 5-year lease in 2023 with an option and invested almost $400k into the buildout of the ground floor space, adding significant value to this already compelling investment opportunity.

FOR SALE DETAILS

PRICE

$845,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

5

PRICE/UNIT

$169,000

CAP RATE

7.34%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

B-1

APN/PARCEL ID

29-31-310-021-0000

ASK ABOUT THIS PROPERTY

Dave Snehal, CCIMeXp CommercialMore Info
773-230-8055

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Dave Snehal, CCIMeXp CommercialMore Info
773-230-8055

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