Essex Realty Group, Inc. is pleased to announce the sale of 1224 W. Oakdale Ave., a 4-unit apartment building located in the Lakeview neighborhood of Chicago, Illinois.
1224 W. Oakdale Ave. is comprised of two (2) two bed/one bath units, one (1) two bed/two bath unit, and one (1) three bedroom/two and a half bath unit. The apartments feature a mix of white and stainless steel kitchen appliances, in-unit laundry, and individual HVAC. The units also feature hardwood and vinyl flooring in kitchens and common spaces, tile in bathrooms, and mostly carpeted bedrooms. Three units feature private or semi-private outdoor space. The property presents investors with multiple value-add opportunities. There is potential for a new owner to bring rents to market or renovate the building to capture rental upside.
The subject property is conveniently situated 0.3 miles from the Wellington Brown Line Station, providing residents easy access throughout Chicago. 1224 W. Oakdale Ave. is also located within walking distance to a variety of bars, restaurants and boutiques along Lincoln and Sheffield Avenues. In addition, Whole Foods Markets and Jewel-Osco are both located 0.6 miles from the property. Essex conducted an extensive marketing campaign resulting in a quick sale.
- Cosmetic Value Add Opportunity; Rental Upside
- Apartments Feature a Mix of White and Stainless Steel Kitchen Appliances, In-unit Laundry, and Individual HVAC
- Conveniently Situated 0.3 Miles from the Wellington Brown Line Station
- Sold CAP Rate: 6.05%
- Sold GRM: 10.42