2034-2044 W Hood Ave 10 Unit Apartment Building $2,267,628 CAD ($226,763 CAD/Unit) 7.23% Cap Rate Chicago, IL 60659
INVESTMENT HIGHLIGHTS
- Located in West Ridge, Chicago, under 10 minute walk to Peterson/Ridge UP North Metra station, offering convenient access to transportation and surrou
- Roughly 80% of this property's tenants, and their rents, are secured by various social service organizations
- 6.13% Cash on Cash return Year 1; over 10% Pro-Forma Cash on Cash return potential
- Features 10 one-bedroom units, 13 revenue-generating parking spaces, and one non-conforming garden unit generating over $11,000 of additional annual i
- Clear pathway to adjust rents to market levels through collaboration with tenant organizations
PROPERTY FACTS
| Price | $2,267,628 CAD |
| Price Per Unit | $226,763 CAD |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| Gross Rent Multiplier | 10.39 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.7/1,000 SF |
UNIT AMENITIES
- Balcony
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 600 |
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PROPERTY TAXES
| Parcel Number | 14-06-120-003-0000 | Improvements Assessment | $49,554 CAD |
| Land Assessment | $65,483 CAD | Total Assessment | $115,037 CAD |
ZONING
| Zoning Code | R4, Chicago |
