3901 Haas Ave
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3901 Haas Ave
8 Unit Apartment Building $1,292,306 CAD ($161,538 CAD/Unit) 6.72% Cap Rate Lyons, IL 60534
Investment Highlights
- Fully Occupied Property in Desirable Lyons Location
- Eight (8) 1Bd/1Ba Units; 75% of the Units Have Been Renovated
- High Demand Suburban Rental Market
- Complete replacement of roof currently under construction
- Significant Rental Upside -15-20% in As-is Condition
Executive Summary
Essex Realty Group, Inc. has been exclusively engaged to market for sale of 3901 Haas Avenue, an 8-unit apartment property located in the Cook County suburb of Lyons. The building consists of (8) 1Bd/1Ba units, seven surface parking spaces, and on-site coin laundry.
Investors have the opportunity to acquire a fully occupied property in a highly desirable suburban location with immediate returns. In the current condition, there is a 15-20% upside in rents which will allow a potential investor to recognize a strong 7.51% cap rate once stabilized. In addition, the owner is currently doing a complete tear off of the roof which will be completed by the time of new ownership.
The Subject Property is located 12 miles southwest of Downtown Chicago and 1 mile from the Riverside Metra station. The Property's convenient location offers residents easy access to public transportation and nearby shops and restaurants.
Investors have the opportunity to acquire a fully occupied property in a highly desirable suburban location with immediate returns. In the current condition, there is a 15-20% upside in rents which will allow a potential investor to recognize a strong 7.51% cap rate once stabilized. In addition, the owner is currently doing a complete tear off of the roof which will be completed by the time of new ownership.
The Subject Property is located 12 miles southwest of Downtown Chicago and 1 mile from the Riverside Metra station. The Property's convenient location offers residents easy access to public transportation and nearby shops and restaurants.
Property Facts
| Price | $1,292,306 CAD | Apartment Style | Low Rise |
| Price Per Unit | $161,538 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.72% | Building Size | 4,842 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment |
| Price | $1,292,306 CAD |
| Price Per Unit | $161,538 CAD |
| Sale Type | Investment |
| Cap Rate | 6.72% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 4,842 SF |
| No. Stories | 2 |
| Year Built | 1961 |
Unit Amenities
- Balcony
1 of 1
Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 18-01-202-038-0000 | Improvements Assessment | $71,707 CAD |
| Land Assessment | $5,662 CAD | Total Assessment | $77,369 CAD |
PROPERTY TAXES
Parcel Number
18-01-202-038-0000
Land Assessment
$5,662 CAD
Improvements Assessment
$71,707 CAD
Total Assessment
$77,369 CAD
zoning
| Zoning Code | R-1A, County |
| R-1A, County |
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Jimmy Donahue -
Essex Realty Group
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3901 Haas Ave
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