5028 W 31st Pl
6 Unit Apartment Building $1,189,000 ($198,167/Unit) 8.05% Cap Rate Cicero, IL 60804
INVESTMENT HIGHLIGHTS
- large apartments providing much higher than average rents per unit; and leased storage space in the garage.
- all new roofing 2023.
- renovations include: new furnaces, water tanks, and electrical boxes since 2019-2020, hardy board siding.
EXECUTIVE SUMMARY
cooperating broker commission can be negotiated with a sales contract. see additional information for detailed financials in this listing or via the MLS.
there are 6 units, a garage and 7 storage spaces that are leasable.
Arial photos are old, all new roofing has since been installed in the gable roof systems and the flat roof systems.
there are 6 units, a garage and 7 storage spaces that are leasable.
Arial photos are old, all new roofing has since been installed in the gable roof systems and the flat roof systems.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $1,189,000 |
| Price Per Unit | $198,167 |
| Sale Type | Investment |
| Cap Rate | 8.05% |
| Gross Rent Multiplier | 9.79 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,748 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1904/2018 |
| Parking Ratio | 0.3/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $1,375 | - |
| 3+2 | 1 | $2,400 | - |
| 4+2 | 1 | $2,400 | - |
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 16-33-202-016-0000 | Total Assessment | $40,465 (2024) |
| Land Assessment | $6,050 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $34,415 (2024) | Tax Year | 2023 |
