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$ 599,000
Est. payment /mo
Active
Address not disclosed Crestwood, IL 60418
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12520576
Year Built 1976
Annual Tax Amount $13,523
Tax Year 2024
Lot Dimensions 6979
Property Sub-Type Multi Family 5+
Property Description
Solid six-unit brick apartment building offering immediate cash flow with below-market rents and strong value-add upside in Crestwood. The property includes three 2-bed/1-bath units and three 1-bed/1-bath units, each separately metered for electric, with on-site laundry and twelve parking spaces. One updated unit is already achieving $1,100 per month and can easily reach $1,200+, matching nearby renovated comps and demonstrating the building's true revenue potential. Current gross income of $71,100 and operating expenses of approximately $28,285 support a cap rate near 7% on existing numbers. With modest improvements and market-rate repositioning, projected annual income can reach approximately $93,600 by targeting rents of $1,400 for the 2-bedrooms and $1,200 for the 1-bedrooms, immediately increasing NOI and long-term value. All leases expire at year-end, giving a new owner full flexibility to maintain month-to-month occupancy, renovate and re-tenant for spring market demand, or pursue a phased repositioning while still generating income. Located close to shopping, restaurants, transit, and major roadways, this property sits in a consistently strong rental corridor with steady local demand. A straightforward, easy-to-manage asset ideal for any investor looking to acquire a well-performing building with clear upside and attractive returns from day one.
Location
State IL
County Cook
Area Crestwood
Zoning MULTI
Rooms
Basement None
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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Listed by Hisham Bedeir of Compass
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