34-36 N. Mason Ave Chicago, IL 60644

ACTV

This 6 unit apartment building is located in the best part of Austin, just one street East of the Oak Park boundary. Situated on a quiet, one way street with an assortment of small multi unit properties and single family homes. Conveniently located just a short walk to mass transit, as CTA bus lines run N and S down Austin Blvd, and E and W along Madison St. E-W access to the 290 Expressway is 4 easy blocks south. There are many shops, restaurants, etc along Madison St. in both the Chicago section and the Oak Park section. Beautiful Columbus Park is just 2 blocks south. This property has 6 units (all currently rented) – and all are large 4 bed/2 bath units – generating tremendous current gross income of $178,524, and pro forma income of $180,000/yr (another tenant has just been approved for a rent increase up to $2,500/mo). This Income and current Operating Expenses will produce a 9.6% Cap Rate and 15.6% Cash on Cash return. Each unit has it’s own GFA furnace, water tank, and dishwasher. In addition, the basement area has very high (10 ft) ceilings and 2 entrance/exit doors for each side, so the opportunity definitely exists to add an additional 2 rental units in this space.