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7522 W Lawrence Avenue

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Address: 7522 W Lawrence Ave, Harwood Heights, IL 60706, USA

Chicago & Midwest + Apartment Buildings

Created date: November 4, 2024

Date last updated: November 4, 2024

Prime Location: Positioned in Harwood Heights, a Desirable Suburb with Strong Rental Demand, Excellent Amenities, and Close Proximity to Transportation Options
Substantial Rental Upside: Opportunity to Increase Rental Income by Over 35% by Bringing Current Rents to Market Levels, Boosting Net Operating Income by Over 60%
Strong Unit Mix: One Studio, Five 1-Bedroom/1-Bath Units, and Three 2-Bedroom/1-Bath Units
Stabilized Cap Rate: Attractive Stabilized Cap Rate of 6.80%, Providing a Strong Return in a High-Demand Rental Market

Property Description

Essex Realty Group, Inc. has been exclusively engaged to market for sale 7522 W Lawrence Avenue, a 9-unit apartment building located in Harwood Heights, IL. The property consists of one (1) studio, five (5) 1-bedroom/1-bath units, and three (3) 2-bedroom/1-bath units. Well-maintained by a long-term owner, the property presents an excellent opportunity for investors. Current rents are more than 35% below market, offering significant potential for income growth. By keeping the property in its current condition and adjusting rents to market levels, an investor could increase the net operating income by over 60%. 7522 W Lawrence Avenue is in a highly desirable location surrounded by a host of retail options. Residents have their choice of a plethora of restaurants, bars, and shops, all located within minutes. Additionally, Interstate I-90 and the Harlem Blue Line CTA station are both less than 2 miles from the property. The combination of exceptional convenience and a well-maintained asset makes this in-demand rental property a compelling investment opportunity.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$1,400,000
No. of Units:	9
Opportunity Zone:	No
Price per unit:	$155,556
Property Website	Click Here