2206 North Kostner Avenue
Property Description
2206 North Kostner Avenue is a well-maintained two-unit multifamily property with a non-conforming garden unit in Chicago’s Hermosa neighborhood. The asset features two oversized 3-bedroom units, both of which had kitchens and bathrooms renovated in 2019, offering updated interiors with limited near-term capital needs. The property is currently fully occupied with long-term tenants, resulting in below-market rents and a clear value-add opportunity. Current rents total approximately $3,750/month versus a projected market rent of $4,840/month, representing ~29% upside through natural turnover and lease adjustments. With strong in-place cash flow, recent capital improvements, and meaningful rental upside, the property offers investors a straightforward path to increased income and long-term appreciation.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $545,000 |
| No. of Units: | 3 |
| Opportunity Zone: | No |
| Price per unit: | $181,667 |
| Property Website | Click Here |
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