4901 St Louis AveChicago, IL 60625

This exceptional multifamily investment opportunity presents a 52-unit apartment building located at 4901 N St Louis Ave, Chicago, IL 60625. The property, encompassing 35,759 square feet on a 0.36-acre lot, consists of two, three-story buildings constructed in 1929. Currently boasting a 4.68% cap rate and $93,674 NOI, significant upside potential exists due to below-market rents in several units. A pro-forma analysis projects an 8.26% cap rate and $165,237 NOI, reflecting substantial rent growth opportunities. The building features a mix of one and two-bedroom units, with six one-bedroom and six two-bedroom units currently renting at approximately 50% or more below market rates. Recent improvements include updated electrical service and panels, and recently completed tuckpointing. On-site laundry is available for residents. The building's heating system utilizes baseboard and boiler technology. The roof's age is currently unknown. This is a rare chance to acquire a well-located, value-add multifamily property in Chicago's Albany Park neighborhood with immediate potential for increased profitability. The asking price is $2,000,000. The seller owns the building free and clear.