4401-4407 W Iowa St
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4401-4407 W Iowa St
9 Unit Apartment Building $950,000 ($105,556/Unit) Chicago, IL 60651
Investment Highlights
- Unit Mix: (8) 2Bd/1Ba, (1) 2Bd/1Ba - GDN
- Tenant Paid Heat
- Majority of Units Renovated
Executive Summary
4401-4407 W. Iowa St. is a 9-unit corner apartment building located in Chicago's West Humboldt Park neighborhood. The building consists of entirely two bedroom/one bathroom apartments. The building features one parking space.
The majority of the units have received recent renovations, which include granite countertops, new cabinetry, stainless steel appliances, upgraded baths, individual furnaces, and new or refinished hardwood floors.
Five out of the nine units currently receive rent subsidies. A new owner may wish to add value by converting the remaining units to subsidized units, which would increase monthly income by roughly 16%. Additionally, a new owner may elect to utilize the space on the side of the building to add two parking spaces to the existing single space.
4401-4407 W. Iowa St. is located three blocks from the CTA #66 bus line and just over one mile from the CTA Green Line.
The majority of the units have received recent renovations, which include granite countertops, new cabinetry, stainless steel appliances, upgraded baths, individual furnaces, and new or refinished hardwood floors.
Five out of the nine units currently receive rent subsidies. A new owner may wish to add value by converting the remaining units to subsidized units, which would increase monthly income by roughly 16%. Additionally, a new owner may elect to utilize the space on the side of the building to add two parking spaces to the existing single space.
4401-4407 W. Iowa St. is located three blocks from the CTA #66 bus line and just over one mile from the CTA Green Line.
Property Facts Under Contract
| Price | $950,000 | Building Class | C |
| Price Per Unit | $105,556 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 7,200 SF |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $950,000 |
| Price Per Unit | $105,556 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,200 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 16-03-319-020-0000 | Improvements Assessment | $70,380 |
| Land Assessment | $10,121 | Total Assessment | $80,501 |
PROPERTY TAXES
Parcel Number
16-03-319-020-0000
Land Assessment
$10,121
Improvements Assessment
$70,380
Total Assessment
$80,501
zoning
| Zoning Code | RS-3 (Residential) |
| RS-3 (Residential) |
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4401-4407 W Iowa St
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