2821 W 25th St
- 3,805 SF building
- 4 units
- Built in 1900
- Zoned RT-4
- Located in the Chicago area
Property Description
2821 W 25th St presents the opportunity to acquire a partially renovated 6-unit multifamily property in Chicago’s Little Village / Marshall Square neighborhood with significant value-add potential. Four of the six units have already been beautifully renovated, offering investors significant value-add potential through completing the remaining garden units per existing plans and continued rent growth. The property benefits from separate utilities, individual furnaces, common area laundry, vinyl windows, and two tandem exterior parking spaces. The current owner has renovated four of the six units, making it a strong opportunity for a new investor to step in with substantial capital improvements already completed, while still maintaining meaningful upside through renovation of the two remaining garden units. The property is currently generating $4,695 per month in scheduled rental income, with projected stabilized rents of $8,900 per month upon completion of the remaining renovations and lease-up, representing approximately 90% rental upside from current levels. The occupied units also provide strong mark-to-market potential, with projected rental increases averaging 23% based on comparable renovated product in the surrounding submarket. Based on the projected all-in basis of $810,000, inclusive of renovation costs, the Offering Memorandum projects a stabilized NOI of approximately $70,765 and an 8.74% stabilized cap rate upon completion of the value-add program.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $650,000 |
| No. of Units: | 6 |
| Year Built: | 1900 |
| Lot Size: | 0.07 Acres |
| Opportunity Zone: | No |
| Price per unit: | $108,333 |
| Property Website | Click Here |
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