Property Overview
The subject investment property (the "Property") is located at 4556 N Avers Ave in the Albany Park neighborhood of Chicago's Northwest Side.
The Property is seven (7) total units including a non-conforming basement unit. The unit mix consists of three (3) 2BR/2BAs and four (4) 1BR/1BAs. The Property is fully occupied and all tenants are on month-to-month leases.
The seller has put significant capital into the building over the last 5+ years, including for the installation of copper plumbing, a new boiler and hot water tank, as well as masonry work and lintel replacements.
There are two (2) garage parking spaces included at the Property which are currently being leased by one tenant for $300 per month. Additionally, there are coin-operated laundry machines and storage units located in the basement.
4556 N Avers Ave provides investors an opportunity to capitalize on the current rent roll and implement a value-add strategy to obtain significant yield.
Highlights
- Prime Value-Add Opportunity – Significantly Below Market Rents
- All Leases are MTM
- Unit Mix: (4) 1BR/1BA + (3) 2BR/1BA
- Two (2) Garage Parking Spaces Included
- Centrally Located within Albany Park