Description
Stable 6-unit mixed-use building in the heart of East Humboldt Park, immediately west of Wicker Park. Entire building was completely gut renovated in 2018. New commercial lease through 11/30/2027 with annual rent increases and one 5-year renewal option. All apartments were gut renovated and feature a mix of 1, 2 and 3 bedroom units, ideal reconfigured layouts, in-unit laundry, central HVAC, hardwood floors throughout, high-end finishes. 2-car parking pad in back. Separately metered utilities and electric panels in-unit. Bundled services plan has been implemented which includes Comcast internet for residents. List price reflects 5.9% in-place cap rate with ability to move apartment rents to 6.35% cap rate. Annual retail rent increases will continue to push the cap rate up. Turnkey investment in a great location.
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01/2 BATHS
School Ratings & Info
Description
Stable 6-unit mixed-use building in the heart of East Humboldt Park, immediately west of Wicker Park. Entire building was completely gut renovated in 2018. New commercial lease through 11/30/2027 with annual rent increases and one 5-year renewal option. All apartments were gut renovated and feature a mix of 1, 2 and 3 bedroom units, ideal reconfigured layouts, in-unit laundry, central HVAC, hardwood floors throughout, high-end finishes. 2-car parking pad in back. Separately metered utilities and electric panels in-unit. Bundled services plan has been implemented which includes Comcast internet for residents. List price reflects 5.9% in-place cap rate with ability to move apartment rents to 6.35% cap rate. Annual retail rent increases will continue to push the cap rate up. Turnkey investment in a great location.
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