7-Unit Multifamily
For Sale
$300,000
Pending
358 Yates Avenue, Calumet City, IL 60409
Seven-unit multifamily with six 2-bedroom and one 3-bedroom unit, offered for value-add renovation and stabilization.
Property SizeContact for details
Days on Market61
Property Features for 358 Yates Avenue
General Information
Standard status
Pending
Property subtype
Multi Family 5+ / Multi Family 5+-Other
Additional Details
Cap Rate
19.85%
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$33,560
Building Details
Year Built
1967
Stories
3
Listing Agency:
Keller Williams ONEChicago
(773) 575-6082
Listed By:
Anthony Hardy · License #475139834
(773) 575-6082
Source:
Compass
Added: Jun 30
Changed: Aug 8
Last Checked: Jul 24 at 12:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams ONEChicago
Investment Insights
Based on property information with market context.
358 Yates Ave is a 7-unit multifamily property in Calumet City, Illinois, configured with six 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit. The offering is positioned for repositioning, with targeted capital improvements budgeted to address turnover, unit repairs, and stabilization needs.
As presented in the pro forma, total gross scheduled income is based on 2-bedroom units reaching $1,525 per month and the 3-bedroom unit reaching $1,800 per month, with a 5% vacancy factor applied to estimate effective gross income. Total operating expenses, including property taxes, are estimated at $65,270.20, producing a stabilized pro forma net operating income of $59,559.80.
A renovation budget of $105,000 is estimated to support the stabilization strategy. On the provided stabilized assumptions, the property’s projected financial metrics reflect the current value-add nature of the asset and the execution of lease-up and stabilization.
As presented in the pro forma, total gross scheduled income is based on 2-bedroom units reaching $1,525 per month and the 3-bedroom unit reaching $1,800 per month, with a 5% vacancy factor applied to estimate effective gross income. Total operating expenses, including property taxes, are estimated at $65,270.20, producing a stabilized pro forma net operating income of $59,559.80.
A renovation budget of $105,000 is estimated to support the stabilization strategy. On the provided stabilized assumptions, the property’s projected financial metrics reflect the current value-add nature of the asset and the execution of lease-up and stabilization.
Key Highlights
- 7‑unit multifamily in Calumet City, IL (built 1967): six 2‑bed/1‑bath units and one 3‑bed/1‑bath unit
- Stabilized pro forma gross scheduled income of $131,400/year; effective gross income projected at $124,830/year after a 5% vacancy factor
- Projected stabilized NOI of $59,559.80/year on estimated operating expenses of $65,270.20 (including property taxes)
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 60409, IL
36,045
Population
16,868
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
4,681
Density / Sq Mi
$53,991
Median Household Income
$37,389
Median Earnings
$1,138
Median Rent
$133,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily with six 2-bedroom and one 3-bedroom unit, offered for value-add renovation and stabilization.
Where is this apartment building located?
The property is located at 358 Yates Avenue Calumet City, IL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 7‑unit multifamily in Calumet City, IL (built 1967): six 2‑bed/1‑bath units and one 3‑bed/1‑bath unit; Stabilized pro forma gross scheduled income of $131,400/year; effective gross income projected at $124,830/year after a 5% vacancy factor; Projected stabilized NOI of $59,559.80/year on estimated operating expenses of $65,270.20 (including property taxes)
