7414-7416 W 63rd Pl - Apartments FOR SALE


Summit, IL 60501
$737,000 USD
708-576-8909
7414-7416 W 63rd Pl, Summit, IL for Sale
$737,000 USD
Apartments - FOR SALE
1/1
null | 12.78% Cap Rate

7414-7416 W 63rd Pl
Summit, IL 60501


HIGHLIGHTS

  • Recent property updates include newer roof, replacement windows, and a renovated full bath on the main level.
  • Positioned near major roadways such as Harlem Avenue and I-55, supporting excellent connectivity to the Chicago metro.
  • Close proximity to Midway International Airport, regional commercial corridors, schools, and local community services.
  • Full leased with excellent financial performance.

OVERVIEW

Introducing a remarkable multi-unit building in the heart of Summit. Offering a lucrative investment opportunity for savvy buyers. This fully leased six-unit property boasts a low vacancy rate, ensuring consistent cash flow and long-term stability. Enjoy immediate returns with all six units fully leased, creating a reliable income stream in a highly sought-after rental market. Experience peace of mind with a proven low vacancy rate, demonstrating strong tenant demand and satisfaction. The property features a robust cap rate, indicative of strong financial performance and an excellent investment potential. Significant renovations have been completed in 2023, including: A brand-new roof enhances the building's structural integrity and aesthetic appeal. Upgraded windows & doors to improve energy efficiency and contribute to tenant comfort. Enhancements to the garage, including new siding, door, and light fixtures, bolster both functionality and curb appeal. With its excellent financial performance, extensive upgrades, and prime location, this six-unit building in Summit, is a fantastic opportunity for investors seeking a well-performing asset with long-term growth potential. Don't miss your chance to capitalize on this exceptional listing!

FOR SALE DETAILS

PRICE

$737,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

6

PRICE/UNIT

$122,833

CAP RATE

12.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,247 SF

ZONING

-

APN/PARCEL ID

18-24-201-042-0000,18-24-201-043-0000

ASK ABOUT THIS PROPERTY

Miriam DevriesCentury 21 New BeginningsMore Info
708-576-8909

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Miriam DevriesCentury 21 New BeginningsMore Info
708-576-8909

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