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1722 W Belmont Ave

4 Unit Apartment Building $2,350,000 ($587,500/Unit) Chicago, IL 60657

Investment Highlights

  • Turn-key. 100% rented and occupied.
  • Highly desirable location. Easy to manage and rent.
  • Newer Construction. High-end finishes.

Executive Summary

Presenting a fully leased, high-end multifamily building, offering turnkey investment potential. This newly constructed property features four occupied units: three identical residential units (3 bedrooms, 2 baths each) and a ground-floor retail space, collectively generating a total annual income of 199,200. Residential units feature a living room, dining room, chef's kitchen with custom cabinets, granite counters, cook top stove, built-in oven and microwave and dishwasher. All high-end stainless appliances. Three large bedrooms including a primary bedroom with stone primary bath with double bowl vanity sink, soaking air jet tub, separate shower and heated floors. The primary bedroom has large walk-in organized closets. Bedroom two and three both include organized closets. The second bathroom featured a stone bath. Hardwood floors throughout. Custom lighting and window treatments. In-unit washer and dryer. Individual controlled HVAC. High efficient tankless hot water heaters in each unit. Each unit has a front terrace and a rear deck. The top floor unit includes the roof deck buildout with composite deck, gas hook up, water hook up and skyline views. Each residential unit includes parking for two tandem cars in a gated and covered parking pad. Perfect location close to Whole foods, Paulina Brown Line and so much more. Easy building to manage and keep as a rental. All unit utilities paid for by tenants. Rental amounts are as listed: retail unit 2,900, unit 2 is 4,300, units 3 is 4,500 and unit 4 is 4,900. A member of the LLC holds an IL real estate license. The listing broker is not a member of the LLC.

Financial Summary (Actual - 2024)

Annual Annual Per SF
Gross Rental Income $199,600 $41.11
Other Income - -
Vacancy Loss - -
Effective Gross Income $199,600 $41.11
Taxes $26,043 $5.36
Operating Expenses - -
Total Expenses $26,043 $5.36
Net Operating Income - -

Financial Summary (Actual - 2024)

Gross Rental Income
Annual $199,600
Annual Per SF $41.11
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $199,600
Annual Per SF $41.11
Taxes
Annual $26,043
Annual Per SF $5.36
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $26,043
Annual Per SF $5.36
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Price $2,350,000
Price Per Unit $587,500
Sale Type Investment
Gross Rent Multiplier 11.8
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Mid Rise
Building Class A
Lot Size 0.07 AC
Building Size 4,855 SF
Average Occupancy 100%
No. Stories 4
Year Built 2015
Parking Ratio 1.24/1,000 SF

Unit Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Disposal
  • Microwave
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Crown Molding
  • Double Vanities
  • Kitchen
  • Granite Countertops
  • Hardwood Floors
  • High Speed Internet Access
  • Refrigerator
  • Stainless Steel Appliances
  • Walk-In Closets
  • Grill
  • Deck
  • Double Pane Windows
  • Freezer
  • Intercom
  • Patio

Site Amenities

  • Fenced Lot

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+2 3 $4,600 -
Studios 1 $2,900 -
Walk Score ®
Walker's Paradise (96)
Bike Score ®
Very Bikeable (83)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
14-19-434-031-0000
Land Assessment
$37,500 (2023)
Improvements Assessment
$82,500 (2023)
Total Assessment
$120,000 (2023)
Annual Taxes
$26,043 ($5.36/SF)
Tax Year
2024

zoning

Zoning Code B3-2 (Community Shopping District)
B3-2 (Community Shopping District)
  • Listing ID: 33828768

  • Date on Market: 11/11/2024

  • Last Updated:

  • Address: 1722 W Belmont Ave, Chicago, IL 60657

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