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Listed by Mike Wolsonof Compass
$725,000
Est. payment /mo
5,662 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12705965
Year Built 1960
Annual Tax Amount $11,947
Tax Year 2024
Lot Size 5,662 Sqft
Lot Dimensions 5700
Property Sub-Type Multi Family 5+
Property Description
Rare value-add multifamily opportunity in North Riverside featuring five two-bedroom, one-bath units, each with two dedicated parking spaces. The property has been owned and occupied by long-term tenants, providing an investor with immediate in-place income and a clear opportunity to create additional value through renovation, deferred maintenance improvements, and active asset management. Current rents range from $900 to $1,100 per month, with market rents estimated at approximately $1,600 per month following renovation. Each unit presents an opportunity for modernization and repositioning, allowing a new owner to improve the asset, capture rental upside, increase operating income, and enhance long-term value. With ten on-site parking spaces and a straightforward five-unit configuration, this property offers an attractive opportunity for investors seeking a manageable multifamily investment with meaningful upside potential through targeted improvements and lease repositioning.
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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Joanna Lewkowicz
Designated Managing Broker | Owner | 471.018027 471018027
+1(708) 963-0011 | joanna@boutiquehomerealty.com