Rarely available, this well-maintained 12-unit apartment building offers the ideal combination of stable income, desirable tenant mix, and multiple revenue streams. The property consists of a balanced selection of one- and two-bedroom apartments across two adjoining buildings, ensuring consistent rental demand and long-term tenant stability. In addition to strong rental income, ownership is enhanced by twenty parking spaces and on-site laundry facilities, both generating extra revenue. With a current annual gross income of $207,156 and a NOI of $155,283, the building produces a solid 7.4 cap rate at the $2.1M asking price. This makes it not only a strong stand-alone investment but also an excellent candidate for a 1031 exchange. The property benefits from a highly accessible suburban location with close proximity to O'Hare International Airport, I-294, and I-90. Tenants enjoy the convenience of being near retail centers, restaurants, schools, and public transportation, while directly across the street is a community park offering green space, sports fields, and recreational amenities. This attractive setting further supports tenant retention and strong rental demand. With low operating expenses relative to income and the potential for professional management, this is a turnkey investment opportunity that offers immediate cash flow, steady returns, and room for future rent growth in a desirable, commuter-friendly location.

Courtesy Of: Weichert Realtors Ambassador

Directions

Irving Park road to River road- Just west of River road to 9231-35 Irving Park road

Availability Calendar

Rental Rates

Inquire about this property