4030 South Indiana Avenue
Property Description
4030 S. Indiana Ave is a well-maintained, legal 4-unit building in Bronzeville with the top floor currently available for owner occupancy. The property consists of (3) large 3 bed / 2 bath units and (1) 2 bed / 2 bath garden. The building was renovated in 2017 and all units enjoy in-unit laundry, gas-forced air furnaces, and laminate counter tops. The property is being listed at an attractive 9.3x gross rent multiple or roughly 6.4% cap rate on in-place cash flows. If the existing lease roll were marked to current market rents, the property would generate $109,620 in gross annual income and stabilize at a 7.7% cap rate without the need for major renovations. The neighborhood continues to experience substantial residential and commercial development activity, driving long-term appreciation and rent growth. The building sits half a block from the CTA Green line station, providing a short commute downtown for owners and tenants alike. Bronzeville’s combination of historic character, improving infrastructure, and continued new construction positions the property to benefit from the sustained and increasing housing demand.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $895,000 |
| No. of Units: | 4 |
| Opportunity Zone: | No |
| Price per unit: | $223,750 |
| Property Website | Click Here |
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