Triton Realty Group, LLC presents for purchase 2712-16 W. Crystal Street, a six (6)-unit multifamily building located on Chicago’s West Side. This vintage brick walk-up contains an excellent unit mix, featuring six (6) 2-bed | 1-bath apartments. This property, being owner-occupied for decades, has received great care and has been well maintained. The adjacent lot to the east is being sold in addition to the property.
All six apartments showcase a large footprint and loads of potential. There is ample living space and plenty of natural light with the building facing south. In addition, the electric and cooking gas are separately metered. The building is heated by a well-maintained central boiler system and one 75 gallon water heater. Further building improvements that have been done since 2012 include, but are not limited to, a full tear off roof on the building and both garage structures, new front windows, and an abundance of masonry & tuckpointing work.
2712-14 W. Crystal Avenue presents an incredible investment opportunity to acquire a value-add property in one of Chicago’s most developing and upcoming neighborhoods, East Humboldt Park. An investor has the prospect of adding value through significant renovation. By adding an additional bathroom for each unit, along with updated finishes, there is great opportunity for increasing rent levels to market rates. By raising rents to market levels, new ownership will greatly improve the building’s income. A buyer has a great opportunity to acquire an investment with huge upside potential in an appreciating location, providing a solid cash-on-cash return for years to come.
Pro Forma Cap-Rate
• Nice size units/layouts with possibility to add additional bathroom.
• Upside potential through updating apartments and obtaining market rents.
• Well maintained for almost 50 years by seller and received numerous capital improvements during ownership.