5647 West Wellington AvenueChicago, IL 60634

For Sale
$1,350,000

12-unit a rare three-story walk-up in the heart of Chicago's Belmont Cragin neighborhood

Overview

Added:
Jan 17
Days on market:
56
Kiser Group has been exclusively engaged to market for sale 5647 W. Wellington, a 12-unit, a rare three-story walk-up located in the heart of Chicago's Belmont Cragin neighborhood.

The property features (12) spacious 1-bedroom, 1-bathroom units and has been meticulously maintained by the current owner. Additionally, all the units have been cosmetically updated and contains modern kitchens and bathrooms. Recent capital improvements include a newer boiler with R&D controls, new water heater, recent tuckpointing, newer windows, copper plumbing (horizontals), and new porches. Furthermore, the building is equipped with four (4) on-site garage parking spots.

5647 W. Wellington presents an investor with a unique opportunity to acquire an already cash-flowing asset with an in-place cap rate of over 7.48% from day one. Additionally, through improved leasing, management, and raising rents to levels already being achieved in the building, a new investor can realize a cap rate of 8.14% and cash returns of nearly 9.89%.

Highlights

  • Meticulously Maintained (12) One-Bed/One Bath Layouts Updated Kitchens & Baths Recent Cap Ex Completed: New Porches, Newer Boiler, Recent Tuckpointing & New Windows (4) On-Site Garage Parking Spaces

Property Details for 5647 West Wellington Avenue

Property type
Multifamily properties, Residential income homes
Square Feet
8,400 SF
Price / Square Foot
$160.71
Buildings
1
Stories
3
Elevators
N/A
Lot Size (sq. ft)
8,400 SF
Units
12

Location Insight

City
Chicago
County
State
Illinois

FAQs

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5647 West Wellington Avenue
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