1455 S Hamlin Ave
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1455 S Hamlin Ave
6 Unit Block of Flats £375,576 (£62,596/Unit) 11.24% Net Initial Yield Chicago, IL 60623
Investment Highlights
- 100% Occupied with a 11.24% Cap. 15.04% Pro Forma Cap
- Tenants Pay Gas/Heat & Electric
- 6-Unit Greystone Building Rehabbed
Executive Summary
6-Unit Apartment Building For Sale in Douglas Park / North Lawndale. 100% occupied with the market tenants. The price per unit which is very good by today's standards. 11.24% CAP! The rents are WAY below the market and there are value added potential. Recent improvements/renovations consist of: new roof 2015, new gas-forced air units 2017, new concrete throughout basements 2017, new steel porches 2016 with new painting 2021, entire building tuckpointed 2016, circuit breakers throughout units, new plumbing, and stacks, the new fence at the back yard 2021 and all new insulation layer for water pipes 2021. Tenants Pay Gas/Heat & Electric
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£47,886
|
£7.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£47,886
|
£7.66
|
| Taxes |
£3,105
|
£0.50
|
| Operating Expenses |
£7,347
|
£1.18
|
| Total Expenses |
£10,452
|
£1.67
|
| Net Operating Income |
£37,434
|
£5.99
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | £47,886 |
| Annual Per SF | £7.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £47,886 |
| Annual Per SF | £7.66 |
| Taxes | |
|---|---|
| Annual | £3,105 |
| Annual Per SF | £0.50 |
| Operating Expenses | |
|---|---|
| Annual | £7,347 |
| Annual Per SF | £1.18 |
| Total Expenses | |
|---|---|
| Annual | £10,452 |
| Annual Per SF | £1.67 |
| Net Operating Income | |
|---|---|
| Annual | £37,434 |
| Annual Per SF | £5.99 |
Property Facts
| Price | £375,576 | Building Class | C |
| Price Per Unit | £62,596 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 6,250 SF |
| Net Initial Yield | 11.24% | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1905/2017 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £375,576 |
| Price Per Unit | £62,596 |
| Sale Type | Investment |
| Net Initial Yield | 11.24% |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 6,250 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1905/2017 |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Heating
- Ceiling Fans
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | £645.52 | 750 - 900 |
| 3+1 | 2 | £762.89 | 1,000 |
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PROPERTY TAXES
| Parcel Number | 16-23-118-010-0000 | Total Assessment | £32,081 (2024) |
| Land Assessment | £4,290 (2024) | Annual Taxes | £3,105 (£0.50/sf) |
| Improvements Assessment | £27,791 (2024) | Tax Year | 2022 Payable 2023 |
PROPERTY TAXES
Parcel Number
16-23-118-010-0000
Land Assessment
£4,290 (2024)
Improvements Assessment
£27,791 (2024)
Total Assessment
£32,081 (2024)
Annual Taxes
£3,105 (£0.50/sf)
Tax Year
2022 Payable 2023
zoning
| Zoning Code | RT-4 (Residential Two-Flat, Townhouse and Multi-Unit District) |
| RT-4 (Residential Two-Flat, Townhouse and Multi-Unit District) |
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1455 S Hamlin Ave
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