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Multifamily

12619 & 12623 South Lincoln Street

12619 S Lincoln St, Calumet Park, IL 60827

Listing Price: $900,000

Cap Rate
7.34%
Number of Units
16
Occupancy
95.0%
Price/Unit
$56,250
Price/Gross SF
$83.33
Gross SF
10,800

Investment Overview

Marcus & Millichap is pleased to present 12619 and 12623 South Lincoln Street, located in Calumet Park, Illinois. The offering consists of eight one-bedroom and eight two-bedroom apartments. The buildings feature four fully updated units featuring new kitchens with stainless steel or white appliances, updated bathroom tile and vanity, hardwood or carpet throughout and additional updates as needed. The remaining 12 units are extremely well-kept, with units updated and fixed as needed. With new boilers and hot water tanks installed in 2020, this turn key investment is an opportunity for additional cosmetic updates as units turn and has major upside potential for rent growth. Located in a nicer area in Calumet Park and being the best kept apartment building in a residential area, there is no shortage of tenants wanting to sign a lease. The Building has 10 parking spots in the back alley, as well as ample off-street parking.

Investment Highlights

  • Side By Side Buildings Feature Eight One-Bedroom and Eight Two-Bedroom Apartments
  • Tremendous Upside Potential For Rent Growth
  • Brand New Boilers And Hot Water Heaters In 2020
  • Four Units Fully Updated Cosmetically, Remaining 12 Are Well-Kept and Updated As Needed

Exclusively Listed By

Financing By

Multifamily

12619 & 12623 South Lincoln Street

Listing Price: $900,000

Cap Rate
7.34%
Number of Units
16
Occupancy
95.0%
Price/Unit
$56,250
Price/Gross SF
$83.33
Gross SF
10,800

Investment Highlights

  • Side By Side Buildings Feature Eight One-Bedroom and Eight Two-Bedroom Apartments
  • Tremendous Upside Potential For Rent Growth
  • Brand New Boilers And Hot Water Heaters In 2020
  • Four Units Fully Updated Cosmetically, Remaining 12 Are Well-Kept and Updated As Needed

Investment Overview

Marcus & Millichap is pleased to present 12619 and 12623 South Lincoln Street, located in Calumet Park, Illinois. The offering consists of eight one-bedroom and eight two-bedroom apartments. The buildings feature four fully updated units featuring new kitchens with stainless steel or white appliances, updated bathroom tile and vanity, hardwood or carpet throughout and additional updates as needed. The remaining 12 units are extremely well-kept, with units updated and fixed as needed. With new boilers and hot water tanks installed in 2020, this turn key investment is an opportunity for additional cosmetic updates as units turn and has major upside potential for rent growth. Located in a nicer area in Calumet Park and being the best kept apartment building in a residential area, there is no shortage of tenants wanting to sign a lease. The Building has 10 parking spots in the back alley, as well as ample off-street parking.

Exclusively Listed By

Financing By

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