BEDS0
BATHS
SQUARE FEET7,400
MLS#12709995
STATUSNew
PROPERTY TYPEMulti Unit - Multiple
Property Description
2038 N Kostner Ave is a center-entrance, six-unit apartment building in Chicago's Hermosa neighborhood. The property sits on a double lot totaling 6,270 SF with a rear courtyard and a 4-car garage. The unit mix includes (1) 4-Bed/1-Bath, (3) 3-Bed/1-Bath, (1) 3-Bed/1-Bath garden, and (1) 2-Bed/1-Bath garden. The above-grade units averaging 1,398 SF and the garden units 900 SF. Systems include individual furnaces with window A/C, separate 100-amp electric panels, and separate hot water tanks per units. Tenants are responsible for their own heat and hot water costs. The property represents an opportunity for a new buyer to acquire a high-quality building in an appreciating neighborhood with strong cash flow in-place and future value-add upside. At list price, the building is offered at a 9.27x gross rent multiple or a 7.26% in-place cap rate without any renovation or capital investment. Future upside can be unlocked through the installation of in-unit laundry and central air conditioning at the property.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Window Unit(s)
Lot Size: 0.14 Acres
Stories: 3.0
Taxes: $14,313
Year Built: 1926
Feature Descriptions
Electric: Circuit Breakers
Exterior: Brick
Frontage Type: City Street
HVAC: Forced Air
Lot Dimensions: 50 x 125
Parcel#: 13341290210000
Tenant Pays: Electricity, Heat
Units: 6
Listed By / Shown By
Listed By
Agency Name: Essex 312, LLC
Agency Phone: 773-305-4858
Shown By
Agent Name: Jill Jarek
Agent Phone: (815) 621-5255
Agency Title: Gambino Realtors
Estimate Your Payment
Estimated Payment
$ 7,597.77 per month $6,018.56 Principal & Interest $1,192.75 Property Tax $386.46 Homeowner's InsuranceChange Payment Information
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2038 N Kostner Avenue | MLS# 12709995
This multi-family property located at 2038 N Kostner Avenue , Chicago, IL 60639 is currently listed for sale with an asking price of $1,325,000. Search Chicago real estate on jjarek.gogambino.com today.