Property Description
No stone left unturned on this stunning classic center entrance. 6341-43 N. Wayne is a legal seven (7) unit apartment building in the desirable Edgewater neighborhood. This high-end renovation offers a new owner an incredible stabilized return and is priced to sell at over a 6.9% cap rate.
Renovated in 2022-23, all apartments feature oversized layouts with designer styled chef kitchens, bathrooms with high end finishes, master suites, private outdoor space, and modern floor plans. Unique designer touches also include streak free graphite appliances with beautiful Quartz
counter tops and classy hardwood floors. In addition to its cosmetic updates, ownership has added new electric service, plumbing, central HVAC systems, new water main, flood
control systems, and in-unit W/D in all units. There is also a new exterior porch with large balconies offering residents a private and ample outdoor space.
Both the Loyola University student population and Edgewater residents are attracted to these apartments opening two renter pools. 6341-43 N. Wayne presents a buyer the rare opportunity to acquire stabilized asset in an
excellent location providing a solid cash-on-cash return for many years to come
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Property Details
Property Type
Multifamily
Year Built
1917
Year Renovated
2022-23
Current Cap-Rate
6.97%
Pro Forma Cap-Rate