Austin Package
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!
Austin Package
4 Multifamily Properties Offered at $3,900,000 in Chicago, IL
Investment Highlights
- Professional Offering Memorandum Available Upon Request
- Desirable Mix of Mostly Two Bedroom Units
- Opportunity for Investor to Achieve Stellar Cash Returns with Assumable Below-Market Interest Rate, Higher Leverage Debt
- Favorable Assumable Debt: Total Balance of $3.46MM [89% LTV at List], 3.83% IR
- Stabilized, Cash-Flowing Portfolio with Strong Rental Upside
Executive Summary
Essex Realty Group, Inc. has been exclusively engaged to market for sale a 5-building, 51-unit portfolio located in Chicago’s Austin neighborhood. The properties are located at 318 N Lotus, 4916 W Augusta, 5214 W Washington, 5216 W Washington, and 551 N Central.
This portfolio features a favorable unit mix of one and two bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this building’s cash flow is the assumable debt. The property has an assumable loan with a balance of $3,462,000 [89% LTV at list] and a below-market interest rate of 5.33%.
This portfolio presents the rare opportunity to acquire a west-side portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, high leverage assumption.
This portfolio features a favorable unit mix of one and two bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this building’s cash flow is the assumable debt. The property has an assumable loan with a balance of $3,462,000 [89% LTV at list] and a below-market interest rate of 5.33%.
This portfolio presents the rare opportunity to acquire a west-side portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, high leverage assumption.
Property Facts
| Price | $3,900,000 | Number of Properties | 4 |
| Price / SF | $82.87 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 47,060 SF |
| Status | Active | Total Land Area | 0.65 AC |
| Price | $3,900,000 |
| Price / SF | $82.87 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 47,060 SF |
| Total Land Area | 0.65 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 318 N Lotus Ave, Chicago, IL 60644 | Multifamily | 22,948 SF | 1926 | - |
| 5214-5216 W Washington Blvd, Chicago, IL 60644 | Multifamily | 7,020 SF | 1966 | - |
| 551-553 N Central Ave, Chicago, IL 60644 | Multifamily | 7,092 SF | 1914 | - |
| 4916 W Augusta Blvd, Chicago, IL 60651 | Multifamily | 10,000 SF | 1929 | - |
1 of 1
-
Robert Berman -
Essex Realty Group
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Austin Package
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.