1264 S Saint Louis | 1264 S Saint Louis Ave
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1264 S Saint Louis 1264 S Saint Louis Ave
6 Unit Apartment Building $675,000 ($112,500/Unit) 8.95% Cap Rate Chicago, IL 60623
Executive Summary
33 Realty is pleased to present for sale 1264 S. Saint Louis Avenue, a 6-unit multi-family investment property opportunity in Homan Square.
The property was extensively rehabbed in 2017 and consists of three 2-bed / 1-bath and three 3-bed / 1-bath apartments with individual gas-forced heat and hot water tanks.
The residents are responsible for individual electric and gas responsibilities. 2017 rehab included: electric upgrade to 400 amp, new masthead, plumbing, waste & supply lines, HVAC, masonry, meters, replaced joists where needed, windows, unit interiors - all per plans permits approved by city of Chicago.
There is significant opportunity for a new operator to bring rents to market to increase the in-place cap rate of 8.95% to 12.69%.
The property was extensively rehabbed in 2017 and consists of three 2-bed / 1-bath and three 3-bed / 1-bath apartments with individual gas-forced heat and hot water tanks.
The residents are responsible for individual electric and gas responsibilities. 2017 rehab included: electric upgrade to 400 amp, new masthead, plumbing, waste & supply lines, HVAC, masonry, meters, replaced joists where needed, windows, unit interiors - all per plans permits approved by city of Chicago.
There is significant opportunity for a new operator to bring rents to market to increase the in-place cap rate of 8.95% to 12.69%.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$85,664
|
$10.71
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $85,664 |
| Annual Per SF | $10.71 |
Property Facts
| Price | $675,000 | Apartment Style | Low Rise |
| Price Per Unit | $112,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 8.95% | Building Size | 8,000 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1906/2017 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $675,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 8.95% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 8,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1906/2017 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 3+1 | 3 | - | - |
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 16-23-202-037-0000 | Improvements Assessment | $43,106 |
| Land Assessment | $4,894 | Total Assessment | $48,000 |
PROPERTY TAXES
Parcel Number
16-23-202-037-0000
Land Assessment
$4,894
Improvements Assessment
$43,106
Total Assessment
$48,000
zoning
| Zoning Code | RT-4 (Apartment Building With 2 To 6 Units) |
| RT-4 (Apartment Building With 2 To 6 Units) |
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1264 S Saint Louis | 1264 S Saint Louis Ave
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