3229 Commercial Ave - Apartments FOR SALE


South Chicago Heights, IL 60411
$775,000 USD
630-715-5714
3229 Commercial Ave, South Chicago Heights, IL for Sale
$775,000 USD
Apartments - FOR SALE
1/23
null | 8.42% Cap Rate

3229 Commercial Ave
South Chicago Heights, IL 60411


OVERVIEW

Don't miss this incredible fully leased investment opportunity! This hard to find 7 unit building is over an 8 cap at the list price. No deferred maintenance and below market rents combine to create tremendous value add potential. With seven total units rent increases to market value and further increases over time will have an exponential effect on value. All of the apartments are desirable 2 bedroom units with a spacious family room. Coin op laundry and storage are available in the basement. One apartment has just been updated with quartz counter tops, new appliances and bathroom fixtures (rented immediately!). Other updates include new windows, new appliances, new exterior lighting and the fire safety system has been updated. New 10 year smoke and CO detectors were just installed. Low to no vacancy history. Restaurants, national retailers and the Jewel grocery store are all within walking distance make renting apartments a breeze. There are 7 onsite parking spaces and unrestricted on street parking. Don't wait, opportunities like this don't come often!

FOR SALE DETAILS

PRICE

$775,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

7

PRICE/UNIT

$110,714

CAP RATE

8.42%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multifamily

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R2

APN/PARCEL ID

32-32-215-019-0000

ASK ABOUT THIS PROPERTY

Charles KirkwoodColdwell BankerMore Info
630-715-5714

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Charles KirkwoodColdwell BankerMore Info
630-715-5714

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