Property Description
Introducing 3129-31 W. Augusta Blvd., a rarely available, 13-unit multi-family property directly facing picturesque Humboldt Park. Professionally managed this stabilized investment property offers great in- place cash flow and future upside.
The building has an excellent unit mix of seven (7) 1-bed & 1-bath apartments, six (6) 2-bed & 1-bath apartments, and one (1) non-conforming, 2-bed & 2-bath garden apartment. All units have been meticulously renovated, featuring updated kitchens and bathrooms complete with
granite counter-tops and stainless steel appliances. In addition to its cosmetic finishes, the building received numerous capital improvements including: tenant paid heat and electric, a new roof, plumbing, windows, coin laundry room, and a new porch system.
3129-31 W. Augusta Blvd. presents an opportunity to acquire a renovated asset with great in-place cash flow in a premier Humboldt Park location. An investor can unlock greater returns by gradually increasing rents to higher market levels over time, providing a solid cash-on-
cash return for years to come.
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Property Details
Property Type
Multifamily
Year Built
Year Renovated
2017-18
Current Cap-Rate
6.53%
Pro Forma Cap-Rate
7.30%
Property Highlights
Phenomenal Location Overlooking Historic Humboldt Park
Current Cap Rate of 5.84% with Upside
Excellent Unit Mix with Spacious Floorplans.
Renovated Asset with Updated Electric, Plumbing,
Windows, Roof & Individual Furnaces.
Five (5) Parking Spaces in the Rear.