5331 S Calumet Ave - Apartments FOR SALE


Chicago, IL 60615- Washington Park
$1,199,000 USD
219-465-8584
5331 S Calumet Ave, Chicago, IL for Sale
$1,199,000 USD
Apartments - FOR SALE
1/8
null | 6.33% Cap Rate

5331 S Calumet Ave
Chicago, IL 60615
Washington Park


HIGHLIGHTS

  • Electrical boxes in-unit
  • 5 parking spaces and automatic gate entry
  • Individual hot water tanks in-unit
  • Extensive improvements in the last year to the interior and exterior

OVERVIEW

Fantastic four-unit, 2007 construction, owner-occupant investment opportunity in appreciating east Washington Park! Unit 4 has been rehabbed to feature modern improvements to be comparable to other new construction (in the area. All four units are 3-bed / 2-bath and three units have in-unit laundry hook-ups. All units have hardwood and tile throughout, modern appliances, gas-forced-heat / central air, granite counter tops, in-unit hot water tanks, and individual utilities. The residences are larger than most of the new construction in the area, ranging in size between 1,200 and 1,400 SF and feature separate dining & living areas. The property has had extensive improvements in the last year to the interior and exterior (see detailed building improvement list from broker). Other notable features: steel porches with individual outdoor spaces, sump pump and grinder pump, breaker panels in-unit, five exterior parking spaces with automatic gate, common coin laundry, new carpet and paint in common hallway, granite countertops and islands, separate living and dining areas, and updated lighting and bathroom fixtures. All kitchens have refrigerators, dishwashers, gas stoves, built-in microwaves, garbage disposals, and condo-quality cabinetry. The current leases are below market: Unit 1 - $2000, Unit 2 - $2,250 (April 1 lease at 5333 S Calumet unit 2 recently signed to highly qualified tenant at $2250), Unit 3 - $2350, and Unit 4 - $2850. This is a fantastic opportunity for an owner-occupant to occupy one unit and benefit from the income from the other three units.

FOR SALE DETAILS

PRICE

$1,199,000 USD

PRICE/SF

$195 USD /SF

# OF UNITS

4

PRICE/UNIT

$299,750

CAP RATE

6.33%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2007

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,860 SF

ZONING

RM-5

APN/PARCEL ID

20-10-313-018-0000

ASK ABOUT THIS PROPERTY

Gene Hart33 RealtyMore Info
219-465-8584

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Gene Hart33 RealtyMore Info
219-465-8584

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