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Last updated on April 10th, 2024

N La Crosse and W Montrose - 15 Units


4832 W. Montrose Avenue, Chicago, Illinois 60641

Building Size9,243 Square Feet
Land Size6,716 Square Feet
ParkingStreet Parking
Year Built1917
Property TypeMultifamily
SubtypeApartment Building
Investment TypeStabilized
Net Rentable 9,243 SF
Cap Rate4.36%
Pro-Forma5.68% (Cap Rate)
Pro-Forma NOI$130,720
Broker Co-OpYes

Marketing Description

KW Commercial is pleased to present the exclusive sale of the multi-family investment property located at 4832 W Montrose Ave in Chicago, Illinois. The three-story brick building contains fifteen (15) 1-Bedroom/1-Bathroom residential units with 9,234 square feet of living area on a corner parcel. The building has been well maintained by the current owner and offers plenty of on street parking. Located in the Chicago neighborhood of Jefferson Park, with many updated and rehabbed properties in close proximity. This Property is well positioned at the intersection of N La Crosse Avenue and W Montrose Avenue and is seconds from Cicero Avenue, an area’s primary commercial corridor. The Property offers convenient access to area highways I90 & I94, public transportation, green space, and numerous retail amenities.

Over the past few years, the property has undergone renovations. All units are incredibly spacious with unique layouts, hardwood flooring, and original trim throughout. Recent capital improvements to the building consist of, but not limited to: newer rear porches and a new central boiler(2023), plumbing and electric, along with an abundance of masonry and tuck pointing. Additionally, the building is equipped with laundry facilities which not only provide tenants a desirable amenity, but further increases the owners gross scheduled income.

From day one, a new operator will capitalize on an incredibly strong and long term tenant base. Furthermore, there is a strong value-add component by stabilizing the below market rate tenants through attrition and lease renewals.

No owner financing available.

Owner and REALTOR are related and licensed REALTORS.

Investment Highlights

  • 15 Units Total
  • Recent Unit Updates
  • Recent CapEx: New Boiler(2023), Newer Porches
  • Unique Layouts with Modern Finishes
  • Original Hardwood Flooring
  • On Property Laundry Facilities
  • Value Add Potential

The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.

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