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In-PersonVirtual Tour
$ 1,199,000
Est. payment | /mo
5,049 SqFt
$ 1,199,000
Est. payment | /mo
5,049 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,049 sqft
Price per Sqft $237
MLS Listing ID 12299545
Year Built 1967
Annual Tax Amount $16,426
Tax Year 2023
Lot Size 6,969 Sqft
Lot Dimensions 61X122X55X122
Property Sub-Type Multi Family 5+
Property Description
Rare Investment Opportunity - Fully Leased 6-Unit in Prime Niles Location! Welcome to 8293 W Oak Ave in Niles, IL-a rarely available investment opportunity offering immediate cash flow with strong value-add potential. Properties like this don't hit the market often! This well-maintained 6-unit brick building features five spacious 2-bedroom units and one 1-bedroom unit, all fully leased with long-term tenants. The property has been thoughtfully updated, including renovated kitchens and bathrooms in 2023 with quartz countertops, modern cabinetry, and stainless steel appliances. Additional improvements include energy-efficient windows installed in 2022 and select units featuring flawless hardwood flooring. Investors will appreciate the added income from coin-operated laundry machines (installed in 2023), six dedicated parking spaces, and a newly paved asphalt parking lot (completed in 2024). Key Investment Advantage: Rents have been kept below market rates out of courtesy to long-term tenants, presenting significant potential for future income growth. With rental prices in the area continuing to rise, this property offers an excellent opportunity to increase revenue while maintaining strong tenant retention. With a 7 cap rate, this property delivers an attractive return in a highly desirable location with top-rated schools, parks, shopping, and dining nearby. Schedule your private tour today-opportunities like this don't last!
Location
State IL
County Cook
Area Niles
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Utilities Available Water-Municipal
Roof Type Composition
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
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Listed by Alexandra Botiz • Coldwell Banker Realty
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Sarah Leonard
Broker | Owner