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AVALON PARK
MULTIFAMILY INVESTMENT OPPORTUNITY

1656 E 83rd Pl, Chicago, IL 60617

$850,000

Property Description

Triton Realty Group LLC is proud to present 1656 E. 83rd Pl, a 9 unit building located in desirable south side neighborhood of Avalon Park. Unit mix consists of (4) 2bd 1ba's and (5) 1bd 1ba's. Units have been updated by current management with newer kitchens, newer baths and refinished hardwood flooring. Each unit has an individual forced air furnace and pays their own heat. Additional cap ex projects that have been done throughout the years: Tuck-pointing/2013, Exterior windows replaced/2014, Roof sealed 2023, Rear porches/2012, Rear gate/2015, security cameras, new carpets and refinished interior stairwells. Building presents an opportunity to build out the garden unit(9th unit) for additional income. Property is located in a very residential area surrounded by single family homes making it desirable for tenants and reducing turnover. Location is close to to 90 expressway, parks retail and a short drive away from Lake Michigan.

Contact Agent

Luke Wojcik

(773) 610-9054

Property Details

Property Type

Multifamily

Year Built

1928

Year Renovated

2015

Current Cap-Rate

7.12

Pro Forma Cap-Rate

8.29

Property Highlights

  • Friendly unit mix: (4) 2bd 1ba, (4) 1bd 1ba

  • Opportunity to add 9th unit in basement

  • Renovated units

  • Desirable low density residential location

GET IN TOUCH

312-788-9379
info@tritonrealtygroup.com
3424 W. Foster Ave.
Chicago, IL 60625

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