4337 Prescott Ave Lyons, IL 60534

Property Details for 4337 Prescott Ave

Lot size

0.63 lot acres

Property size

24,831 SF

Property type

Mixed-use properties

Description

This exceptional mixed-use investment property, located at 4337 Prescott Ave in Lyons, Illinois, presents a compelling opportunity for value-add investors. The property encompasses 24,831 square feet on a 0.63-acre lot and consists of two twelve-unit multifamily buildings situated close together, streamlining management. Each building offers a mix of four one-bedroom/one-bathroom and eight two-bedroom/one-bathroom units, catering to diverse tenant needs. Currently boasting 100% occupancy, this portfolio generates a substantial net operating income (NOI) of $193,005.40, representing a 6.23% capitalization rate at an asking price of $3,100,000. Recent capital improvements include new heating systems, upgraded security systems featuring HD video cameras, and selective unit renovations. On-site laundry facilities with owned washers and dryers provide added convenience for tenants and a supplementary revenue stream. Individual unit heating controls and updated bathrooms enhance tenant comfort and simplify management. Ample off-street parking is available. The property's strategic location offers easy access to major highways, Metra, and PACE bus routes, placing it within convenient reach of retail, dining, schools, and the Brookfield Zoo. This well-maintained portfolio presents significant potential for increased returns through further unit upgrades and rental adjustments as leases are renewed. The price per unit is $129,167, and the price per square foot is $124.84. This is a rare opportunity to acquire a stable, high-performing multifamily investment in a desirable location.

Location Insight

City

Lyons

County

Cook

State

Illinois

Longitude

-87.819

Latitude

41.812