1824 Hood Ave, Unit 1 Chicago, IL 60660-2318

Property Details for 1824 Hood Ave

Year built

1918

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.09 lot acres

Property size

2,106 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

14-06-214-008

APU

1406214008

Description

This exceptional multifamily investment opportunity presents a fee-simple ownership of a two-story, three-unit apartment building situated on a 0.09-acre lot in Chicago's desirable West Ridge neighborhood. The property boasts 3,050 square feet of net rentable space within a total building area of 3,200 square feet. The building, constructed in 1918, features a charming brick exterior and a private gated yard. The unit mix includes one 2-bedroom/1-bathroom unit, one 3-bedroom/1-bathroom unit, and one non-conforming 2-bedroom/1-bathroom unit. All units benefit from renovated interiors and individual HVAC systems. Significant recent upgrades include brand new copper plumbing and updated electrical throughout the building. On-site parking accommodates eight vehicles (two regular spaces and two tandem spaces at the rear, plus four additional spaces on the side). The property enjoys a strong financial performance, with a Net Operating Income (NOI) of $62,423 and a cap rate of 6.97%. Its prime location offers convenient access to public transportation, including the Peterson/Ridge Metra Station (0.2 miles), Granville CTA Station (1 mile), and Thorndale CTA Station (1 mile), as well as major roadways like US Highways 14 and 41. Nearby amenities include Loyola University (1 mile), numerous retail options along Devon and Clark Streets, and the vibrant Desi Corridor. The strong demographics of the area, with an average household income exceeding $90,000 within a 1-mile radius, further enhance the investment potential. This property is ideal for both owner-users and investors seeking a well-maintained, high-performing asset in a thriving Chicago neighborhood. Asking price is $895,000, representing a price per unit of $298,333.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6762

Latitude

41.9934

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments