9.0% Cap Apartment Building with Upside Potential
The Details
- 12,900 SF multi-family building
- Divided into 22 apartments
- 11 one-bed units
- 11 studio apartments
- Updated units – hardwood floors, high ceilings, some walk-in closets
- Recent capital improvements such as new roof, new boiler, updated electrical and plumbing
- Potential to add value thru leasing
- Close to Lake St. and Metra
- Est. 2018 NOI: $64,624
- Pro Forma 2019 NOI: $90,363
- Land Area: 6,600 SF
- Zoning: C-2
A 22 unit apartment building with 12,900 square feet is available for sale near downtown Maywood. The property features 11 one-bed and 11 studio apartments, many of which have been recently updated. The apartments feature hardwood floors, high ceilings, large windows and some have walk-in closets. A number of capital improvements have been made recently including a new roof, a new boiler and updates to the electrical and plumbing systems. The property is close Lake St. and downtown Maywood. This is a great opportunity for an investor looking to add value.
A largely residential suburb, Maywood is located 10 miles west of downtown Chicago. This property is in a largely residential area near shopping and dining along Lake St. as well as the Metra station.