3457 N Ridgeway Ave - Apartments FOR SALE


Chicago, IL 60618- Avondale
$1,200,000 USD
773-293-5023
3457 N Ridgeway Ave, Chicago, IL for Sale
$1,200,000 USD
Apartments - FOR SALE
1/5
null | 6.5% Cap Rate

3457 N Ridgeway Ave
Chicago, IL 60618
Avondale


HIGHLIGHTS

  • Value-Add 8-Unit Deal
  • 1 Bed / 1 Bath Units with Spacious Layouts
  • Desirable Avondale Neighborhood - Supply-Constrained Market
  • 0.3 Miles from Addison Blue Line Station; 0.8 Miles from Irving Park Metra Station

OVERVIEW

Kiser Group is pleased to present 3457 N. Ridgeway Ave, a value-add 8-unit apartment building located in Avondale on Chicago’s Northwest Side. The Property consists entirely of eight (8) 1Bd/1Ba units, all featuring spacious layouts with typically dated interior finishes, offering a clear opportunity for unit modernization and rent growth. The building is heated by a boiler system and serviced by one newer hot water tank for all tenants. Building plumbing is made up of a mix of copper and galvanized. Additionally, the property benefits from an on-site laundry facility, providing an added amenity and supplemental income stream. 3457 N. Ridgeway Ave presents investors with a compelling value-add opportunity. Through unit renovations, targeted mechanical upgrades, and improved management, a new owner can enhance operational efficiency and achieve higher returns upon stabilization

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$250 USD /SF

# OF UNITS

8

PRICE/UNIT

$150,000

CAP RATE

6.5%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,166 SF

ZONING

R3, Chicago

APN/PARCEL ID

13-23-314-001-0000

ASK ABOUT THIS PROPERTY

Joe BianchiKiser GroupMore Info
773-293-5023

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Joe BianchiKiser GroupMore Info
773-293-5023

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