5055 W Wrightwood Ave
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5055 W Wrightwood Ave
12 Unit Apartment Building $1,475,000 ($122,917/Unit) 7.39% Cap Rate Chicago, IL 60639
Investment Highlights
- Upgraded 12-Unit in Belmont Cragin
- Updated Kitchens & Baths
- Current Rents 10% Below Market
- (4) 2bd/1ba (6) 1bd/1ba & (2) Studios
- Separate HVAC, Copper Plumbing, 1200 AMP Electrical Main, Steel Porches
Executive Summary
Kiser Group is exclusively marketing for sale 5055 W. Wrightwood, an updated 12-unit walk up building situated in the vibrant Belmont Cragin neighborhood of Chicago.
This property offers a diverse unit mix, including (2) studio units, (6) 1bd/1ba units, and (4) 2bd/1ba units. All the units have newly updated kitchens & baths. Recent capital improvements consist of separate HVAC systems for each unit, newer vinyl windows, copper plumbing, steel porches, and 1200 AMPS electrical service. Additionally, there is one exterior parking space in the back.
5055 W. Wrightwood presents an investor with a unique opportunity to acquire an already cash-flowing asset with an in-place cap rate of over 7.0% from day one. Additionally, through improved leasing, management, and raising rents 10% to market levels, a new investor can realize a cap rate of 7.35% and cash returns of over 8.4%.
This property offers a diverse unit mix, including (2) studio units, (6) 1bd/1ba units, and (4) 2bd/1ba units. All the units have newly updated kitchens & baths. Recent capital improvements consist of separate HVAC systems for each unit, newer vinyl windows, copper plumbing, steel porches, and 1200 AMPS electrical service. Additionally, there is one exterior parking space in the back.
5055 W. Wrightwood presents an investor with a unique opportunity to acquire an already cash-flowing asset with an in-place cap rate of over 7.0% from day one. Additionally, through improved leasing, management, and raising rents 10% to market levels, a new investor can realize a cap rate of 7.35% and cash returns of over 8.4%.
Property Facts
| Price | $1,475,000 | Apartment Style | Low Rise |
| Price Per Unit | $122,917 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.39% | Building Size | 10,000 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment |
| Price | $1,475,000 |
| Price Per Unit | $122,917 |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 10,000 SF |
| No. Stories | 2 |
| Year Built | 1929 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
| Studios | 4 | - | - |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 13-28-417-001-0000 | Improvements Assessment | $80,635 |
| Land Assessment | $14,166 | Total Assessment | $94,801 |
PROPERTY TAXES
Parcel Number
13-28-417-001-0000
Land Assessment
$14,166
Improvements Assessment
$80,635
Total Assessment
$94,801
zoning
| Zoning Code | RS-3 (Residential Single-Unit District) |
| RS-3 (Residential Single-Unit District) |
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5055 W Wrightwood Ave
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