5911 Corcoran Pl Chicago, IL 60644

Property Details for 5911 Corcoran Pl

Year built

2007

Property size

7,500 SF

Property type

Apartment buildings

Description

This well-maintained, six-unit apartment building in Chicago's desirable Austin neighborhood presents a compelling investment opportunity. Built in 2007, the property boasts 7,500 square feet on an 8,500 square foot lot and features six spacious two-bedroom, two-bathroom units. Each apartment includes in-unit laundry, central heating and air conditioning, modern cabinetry, stainless steel appliances, dishwashers, and granite countertops. Six parking spaces are included in the rent, adding significant value. Currently operating at 100% occupancy, the building generates a substantial net operating income (NOI) of $60,600, translating to a 7.35% capitalization rate. The property is zoned RT-4. Three of the six units are on month-to-month leases, offering potential for immediate rent increases. Tenants are responsible for gas and electric. Detailed income and expense statements are available upon request. This stabilized investment is ideally situated steps from the Austin CTA Green Line and near Oak Park, providing convenient access to public transportation and a vibrant community. The property's strong performance, desirable location, and modern amenities make it an exceptional addition to any investment portfolio. The asking price is $824,900, representing a price per unit of $137,483.33. A drone video is available for viewing.