3054-56 N Major Ave - Apartments FOR SALE


Chicago, IL 60634- Belmont Central
$1,200,000 USD
773-293-5015
3054-56 N Major Ave, Chicago, IL for Sale
$1,200,000 USD
Apartments - FOR SALE
1/7
null | 9.13% Cap Rate

3054-56 N Major Ave
Chicago, IL 60634
Belmont Central


HIGHLIGHTS

  • Opportunity to Increase Rents Through Cosmetic Renovations & More Efficient Leasing
  • Recent Capex Improvements: Individual Furnaces & Water Heaters
  • 9.13% In-Place Cap Rate
  • 11-Unit Building in Heart of Belmont Cragin

OVERVIEW

Kiser Group is pleased to present 3054 N. Major Ave, a value-add 11-Unit apartment building in the heart of Chicago’s Belmont Cragin neighborhood. The Property consists of 8 legal units and 3 non-conforming garden units. The property features a unit mix of six (6) 2Bd/1Ba and five (5) 1Bd/1Ba units, offering spacious layouts with hardwood flooring. Building mechanicals include individual HVAC, separate water heaters, and a mix of galvanized and copper plumbing. Additionally, the property includes three garage parking spaces. 3054 N. Major Ave presents an investor with the opportunity to acquire a high-yield asset with a strong 9.13% cap rate from day one. With strategic updates and renovations, there is significant potential to increase rents by 20%.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

8

PRICE/UNIT

$150,000

CAP RATE

9.13%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,457 SF

ZONING

R-2, Chicago

APN/PARCEL ID

13-29-213-020-0000

ASK ABOUT THIS PROPERTY

Danny LogarakisKiser GroupMore Info
773-293-5015

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Danny LogarakisKiser GroupMore Info
773-293-5015

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