2108 Wesley Ave
- 7.61% In-Place Cap Rate with Strong Upside Potential
- Flexible Two-Unit Layout with Value-Add Rental Opportunities
- Prime Evanston Location Just Minutes from Northwestern University
Property Description
Rare investment opportunity in Evanston’s highly sought-after rental market offers a 7.61% cap rate and 11.01% cash on cash return. With stable in-place income, while offering significant upside through future rent increases and flexible rental strategies in one of Evanston’s strongest rental markets. The property features two distinct floor plans that appeal to a broad tenant base. The spacious first-floor unit is ideal for families, Northwestern students, and young professionals. The second-floor unit includes a finished third-floor attic with three additional bedrooms and one bathroom, creating multiple value-add opportunities through various rental configurations. Conveniently located within a five-minute walk of both Ingraham Park and Foster Park, the property is surrounded by Walgreens, restaurants, cafés, and boutique retail, offering tenants an exceptional neighborhood lifestyle. Northwestern University is just a five-minute drive away, ensuring a consistent and reliable rental pool. Whether you’re seeking a stable cash-flow investment or an owner-occupied property with excellent income potential, 2108 Wesley Avenue offers a compelling combination of strong current returns, long-term appreciation potential, and operational flexibility.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,008,000 |
| No. of Units: | 3 |
| Year Built: | 1937 |
| Lot Size: | 0.11 Acres |
| Opportunity Zone: | No |
| Price per unit: | $336,000 |
| Property Website | Click Here |
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