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About the Listing 27034 - 243713
Solid six-unit brick apartment building offering immediate cash flow with below-market rents and strong value-add upside in Crestwood. The property includes three 2-bed/1-bath units and three 1-bed/1-bath units, each separately metered for electric, with on-site laundry and twelve parking spaces. One updated unit is already achieving $1,100 per month and can easily reach $1,200+, matching nearby renovated comps and demonstrating the building's true revenue potential. Current gross income of $71,100 and operating expenses of approximately $28,285 support a cap rate near 7% on existing numbers. With modest improvements and market-rate repositioning, projected annual income can reach approximately $93,600 by targeting rents of $1,400 for the 2-bedrooms and $1,200 for the 1-bedrooms, immediately increasing NOI and long-term value. All leases expire at year-end, giving a new owner full flexibility to maintain month-to-month occupancy, renovate and re-tenant for spring market demand, or pursue a phased repositioning while still generating income. Located close to shopping, restaurants, transit, and major roadways, this property sits in a consistently strong rental corridor with steady local demand. A straightforward, easy-to-manage asset ideal for any investor looking to acquire a well-performing building with clear upside and attractive returns from day one.
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Hot Water,Radiant
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 6979
- Zoning: MULTI
- Roof:
- Others:
- Sewer:
- Parking Features: 6-12 Spaces
Financial Details
- Tax Amount: $13,523
- Taxes w/Assessments: N/A
- Tax/Property ID: 28044010650000
- Tax Year: 2024
Payment Calculator
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Listing 12520576 Crestwood, IL 60418
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