5055 W Wrightwood AveChicago, IL 60639

For Sale
$1,475,000

12-unit walk up building in the vibrant Belmont Cragin neighborhood of Chicago

Overview

Added:
Jan 17
Days on market:
56
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 7.3% from day one. Additionally, through improved leasing, management, and raising rents 10% to market levels, a new investor can realize a cap rate of 7.73% and cash returns of over 8.74%.

Highlights

  • Upgraded 12-Unit in Belmont Cragin (4) 2bd/1ba (6) 1bd/1ba & (2) Studios Updated Kitchens & Baths Separate HVAC, Copper Plumbing, 1200 AMP Electrical Main, Steel Porches Current Rents 10% Below Market

Property Details for 5055 W Wrightwood Ave

Property type
Multifamily properties, Residential income homes
Square Feet
7,400 SF
Price / Square Foot
$199.32
Year Built
1927
Buildings
1
Stories
2
Elevators
N/A
Lot Size (sq. ft)
7,400 SF
Units
12

Location Insight

City
Chicago
County
State
Illinois

FAQs

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5055 W Wrightwood Ave
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