Crestwood, IL 60418

More
Photos »

Tools & Resources:

Description

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.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60418
• Year Built: 1976
• Stories: 3
• Units: 6 units
• Zoning: MULTI
• # Of Dryers: 1
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Washers: 1
• # Of Window/Ac: 6
• Approximate Age: 36-50 Years
• Built Before 1978 (Y/N): Yes
• Cap Rate: 5.08
• Construction Materials: Brick
• Cooling: Window Unit(s)
• Directions: Cicero Ave turn on Midlothian Turnpike towards the West, Turn right (North) on Dori Ln
• Electric: Circuit Breakers
• Electric Expense: 576
• Electric Expense Source: Actual
• Expense Year: 2024
• Fuel Expense: 4356
• Fuel Expense Source: Actual
• Gross Income: 71100
• Gross Rent Multiplier: 8.42
• Gross Scheduled Income: 72660
• Heat/Ventilation: Hot Water, Radiant
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 16200
• Lot Size Source: County Records
• Lot Size Square Feet: 6979
• Main Type: Commercial Sale
• Manager Expense: 2400
• Operating Expense: 42179
• Outdoor Parking: 6-12 Spaces
• Tax Annual Amount: 13523
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity, Heat
• Total Annual Expense Source: Actual
• Total Monthly Income: 6055
• Type Multi-Family: Flats
• Water Expense Source: Actual
• Water Sewer Expense: 5124