4-Unit Apartment
New
For Sale
$779,000
4806 Mulford Street, Skokie, IL 60077
Individual furnaces and coin laundry serve the apartments, with storage space in the full basement.
Property Size3,350 SF
Price / SF$232.54
Days on Market4
Property Features for 4806 Mulford Street
General Information
Standard status
Active
Size
3,350 SF
Property subtype
Two to Four Units
Zoning
MULTI
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$18,013
Amenities
coin laundry
basement storage
Unfinished,Full
4
8
Lake Michigan
40X125
No
Concrete Perimeter
Building Details
Year Built
1950
Buildings
1
Tenancy
Multi
Listing Agency:
(708) 787-2808
Listed By:
Mustafo Gulomov
Source:
Kawashgroup
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:32PM
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 Mustafo Gulomov
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Investment Insights
Based on property information with market context.
Built in 1950, this 3,350-square-foot quadplex contains four apartments, each with two bedrooms and one bathroom. Enclosed porches offer potential for use as an additional bedroom or office. Each unit has its own furnace, and the full, unfinished basement provides storage for the apartments. Coin-operated laundry is installed in the building.
The property is four blocks from downtown Skokie and within walking distance of the Skokie Swift, schools, restaurants, and grocery stores. Zoning is MULTI. Two long-term tenants currently occupy units in the building.
The property is four blocks from downtown Skokie and within walking distance of the Skokie Swift, schools, restaurants, and grocery stores. Zoning is MULTI. Two long-term tenants currently occupy units in the building.
Key Highlights
- Four apartments, each with two bedrooms and one bathroom
- 3,350 square feet; built in 1950
- Individual furnace in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,469
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$869,380
$869.4K
Cap Rate 7%
$620,986
$621.0K
Cap Rate 9%
$482,989
$483.0K
Market Conditions
NOI Build-Up for 3,350 SF
Gross rent
$67.1K $20.04/SF
− Vacancy
−$5.0K −$1.50/SF
EGI
$62.1K $18.54/SF
− OpEx
−$18.6K −$5.56/SF
NOI
$43.5K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$869,380
Cap Rate 7%
$620,986
Cap Rate 9%
$482,989
Alternative Uses
Best Use
Multifamily LT 5
$621.0K
$543.4K – $724.5K
NOI $43,469 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$555.2K
$485.8K – $647.7K
NOI $38,863 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,962 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
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Business Placement
Demographics for 60077, IL
28,856
Population
11,317
Households
2.5
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
6,870
Density / Sq Mi
$80,765
Median Household Income
$40,996
Median Earnings
$1,450
Median Rent
$327,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Individual furnaces and coin laundry serve the apartments, with storage space in the full basement.
Where is this quadplex located?
The property is located at 4806 Mulford Street Skokie, IL.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Four apartments, each with two bedrooms and one bathroom; 3,350 square feet; built in 1950; Individual furnace in each unit
