2332 W Charleston St - Apartments FOR SALE


Chicago, IL 60647- Bucktown
$1,900,000 USD
847-778-8746
2332 W Charleston St, Chicago, IL for Sale
$1,900,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

2332 W Charleston St
Chicago, IL 60647
Bucktown


HIGHLIGHTS

  • Attractive Unit Mix with Ideal Layouts, Great Natural Light and Generous Living Spaces
  • Significant Rental Increase Achievable through Cosmetic Renovations
  • Capital Improvements Include: Individual HVAC, Newer Windows, Hot Water Heaters, Copper Horizontal Plumbing, Gas Forced Heat Systems (All Units).
  • Duplexed Units also have forced A/C and three (3) Simplex Units with Window A/C).
  • Blocks to the Damen & Western L Stations and Clybourn Metra Station & Minutes to the 90/94 Expressway

OVERVIEW

Triton presents the exclusive opportunity to acquire 2332 W. Charleston, located in the heart of Chicago’s vibrant Bucktown neighborhood. This six (6) unit multifamily property offers an attractive unit mix, featuring a first-floor front unit duplexed into the basement and two third-floor units duplexed into the attic, providing larger layouts and unique living spaces. Select units offer in-unit stackable washers and dryers (Units 3F and 3R) and private rear decks for the three rear apartments, enhancing tenant lifestyle appeal and rental demand. The property has received significant capital improvements over the years including: new porches (2019), gas-forced heat and air (in select units), updated plumbing and a well-maintained roof. An investor has the opportunity to acquire a well-maintained asset with immediate in-place income along with a path for value-add potential. By updating the kitchens and bathrooms, a new investor post-stabilization could achieve a 7.11% cap rate, allowing for a significant cash-on-cash return for many years to come. The property is ideally positioned within walking distance to Bucktown’s premier retail, dining, and entertainment options along Damen Avenue and Milwaukee Avenue. Residents also enjoy immediate access to the 606 Trail, as well as convenient proximity to the Damen CTA Blue Line Station and the Clybourn Metra Station, providing seamless connectivity throughout Chicago. This offering presents investors the opportunity to acquire a well-located, stabilized asset with strong rental upside through interior updates and potential reconfiguration strategies, while capitalizing on one of Chicago’s most dynamic and enduring neighborhoods.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$352 USD /SF

# OF UNITS

6

PRICE/UNIT

$316,667

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1892

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,598 SF

ZONING

RS-3

APN/PARCEL ID

14-31-124-027-0000

ASK ABOUT THIS PROPERTY

Matthew FritzshallTriton Realty Group, LLCMore Info
847-778-8746

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Matthew FritzshallTriton Realty Group, LLCMore Info
847-778-8746

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