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Multifamily

1232 N Austin Blvd

1232 N Austin Blvd, Oak Park, IL 60302

Listing Price: $1,050,000

Cap Rate
6.48%
Number of Units
6
Occupancy
97.0%
Price/Unit
$175,000
Price/Gross SF
$145.83
Gross SF
7,200

Investment Overview

Marcus & Millichap is pleased to present 1232 North Austin Boulevard, a six-unit building located in Oak Park, Illinois. 1232-34 North Austin Boulevard features six spacious two-bedroom / one-bathroom layouts (approximately 1,200 square feet) with separate dining rooms, enclosed rear porches and in-unit laundry. Each unit has been gutted and features newer electric, plumbing, porcelain tile flooring, stainless steel appliances, newer maple cabinets, countertops and lighting. The kitchens were reconfigured to include stackable washers and dryers in each unit and the bathrooms all feature newer vanities, medicine cabinets, light fixtures, plumbing fixtures and linen closets for additional storage. On-site the property contains eight parking spaces (two tandem) which rent for additional income, as well as on-site storage in the basement for each unit. A new investor could potentially duplex a first floor unit down to the basement level. Improvements to the building include roofs and parapet wall repairs, tuckpointing, new paving and striping of the parking lot, newer electrical service, panels and circuit breaking, newer plumbing, installation of security cameras and repairs to the boiler including installation of Honeywell Vision Pro remote sensor temperature controls. This investment is an opportunity for a new investor to acquire a renovated multifamily property in a strong and desirable Oak Park rental market. Through continued strong management a new investor has the potential to achieve consistent cash flow and returns.

Investment Highlights

  • Numerous Capital Improvements to the Building and Units
  • Large Unit Layouts
  • Strong and Desirable Oak Park Rental Market
  • On-Site, Income-Generating Parking
  • Potential to Add Duplex Unit

Exclusively Listed By

  • Eric P. Bell

    Executive Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

  • Jordan Callaway

    First Vice President Investments

    (630) 570-2156

    Email Jordan

    License(s): KY: 71434, IL: 471.020981

    Chicago Oak Brook

Multifamily

1232 N Austin Blvd

Listing Price: $1,050,000

Cap Rate
6.48%
Number of Units
6
Occupancy
97.0%
Price/Unit
$175,000
Price/Gross SF
$145.83
Gross SF
7,200

Investment Highlights

  • Numerous Capital Improvements to the Building and Units
  • Large Unit Layouts
  • Strong and Desirable Oak Park Rental Market
  • On-Site, Income-Generating Parking
  • Potential to Add Duplex Unit

Investment Overview

Marcus & Millichap is pleased to present 1232 North Austin Boulevard, a six-unit building located in Oak Park, Illinois. 1232-34 North Austin Boulevard features six spacious two-bedroom / one-bathroom layouts (approximately 1,200 square feet) with separate dining rooms, enclosed rear porches and in-unit laundry. Each unit has been gutted and features newer electric, plumbing, porcelain tile flooring, stainless steel appliances, newer maple cabinets, countertops and lighting. The kitchens were reconfigured to include stackable washers and dryers in each unit and the bathrooms all feature newer vanities, medicine cabinets, light fixtures, plumbing fixtures and linen closets for additional storage. On-site the property contains eight parking spaces (two tandem) which rent for additional income, as well as on-site storage in the basement for each unit. A new investor could potentially duplex a first floor unit down to the basement level. Improvements to the building include roofs and parapet wall repairs, tuckpointing, new paving and striping of the parking lot, newer electrical service, panels and circuit breaking, newer plumbing, installation of security cameras and repairs to the boiler including installation of Honeywell Vision Pro remote sensor temperature controls. This investment is an opportunity for a new investor to acquire a renovated multifamily property in a strong and desirable Oak Park rental market. Through continued strong management a new investor has the potential to achieve consistent cash flow and returns.

Exclusively Listed By

  • Eric P. Bell

    Executive Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

  • Jordan Callaway

    First Vice President Investments

    (630) 570-2156

    Email Jordan

    License(s): KY: 71434, IL: 471.020981

    Chicago Oak Brook

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