42-52 N Waller Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
42-52 N Waller Ave
44 Unit Apartment Building $3,500,000 ($79,545/Unit) 9.10% Cap Rate Chicago, IL 60644
Investment Highlights
- Professional Offering Memorandum Available Upon Request
- Stabilized, Cash-Flowing Portfolio with Strong Rental Upside
- Desirable Mix of Mostly Two and Three-Bedroom Units
- Favorable Assumable Debt: Total Balance of $2.95MM [84% LTV at List], 5.23% IR
- Opportunity for Investor to Achieve Stellar Cash Returns with Assumable Below-Market Interest Rate, Higher Leverage Debt
Executive Summary
Essex Realty Group, Inc. has been exclusively engaged to market for sale a 44-unit apartment building located in Chicago’s Austin neighborhood. The property is located at 42 N Waller Ave.
This property features a favorable unit mix of mostly [88%] two- and three-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this portfolio’s cash flow is the assumable debt. The portfolio has an assumable loan with a balance of $2,955,000 [84% LTV at list] and a below-market interest rate of 5.23%.
This portfolio presents the rare opportunity to acquire a stabilized portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, high leverage assumption.
This property features a favorable unit mix of mostly [88%] two- and three-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this portfolio’s cash flow is the assumable debt. The portfolio has an assumable loan with a balance of $2,955,000 [84% LTV at list] and a below-market interest rate of 5.23%.
This portfolio presents the rare opportunity to acquire a stabilized portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, high leverage assumption.
Property Facts
| Price | $3,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $79,545 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 9.10% | Building Size | 43,788 SF |
| No. Units | 44 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment |
| Price | $3,500,000 |
| Price Per Unit | $79,545 |
| Sale Type | Investment |
| Cap Rate | 9.10% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 43,788 SF |
| No. Stories | 3 |
| Year Built | 1927 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Site Amenities
- Courtyard
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 400 |
| 1+1 | 3 | - | 665 |
| 2+1 | 30 | - | 930 |
| 3+1 | 4 | - | 1,500 |
| 4+1 | 1 | - | 2,500 |
1 of 1
Walk Score ®
Very Walkable (78)
Transit Score ®
Excellent Transit (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $348,612 | |
| Land Assessment | $28,088 | Total Assessment | $376,700 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$28,088
Improvements Assessment
$348,612
Total Assessment
$376,700
zoning
| Zoning Code | RT-4, Chicago (Residential Two-Flat, Townhouse and Multi-Unit District) |
| RT-4, Chicago (Residential Two-Flat, Townhouse and Multi-Unit District) |
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
42-52 N Waller Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.