4846 St Lawrence Ave Chicago, IL 60615

Property Details for 4846 St Lawrence Ave

Year built

2022

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a fully stabilized, six-unit apartment building in Chicago's vibrant Bronzeville neighborhood. Constructed in 2022, this Class A property boasts a 6.98% cap rate and a net operating income (NOI) of $192,010. The building comprises one four-story structure with six units, each featuring one parking space. The unit mix includes two 1800 sq ft three-bedroom, two-bathroom residences; two 1950 sq ft three-bedroom, two-bathroom penthouses with private rooftop decks; and two 3000 sq ft four-bedroom, two-and-a-half-bathroom duplex units, the latter with garage roof rights. All units are currently 100% occupied with leases extending into Spring 2025, offering immediate cash flow. High-end finishes throughout include hardwood floors, in-unit laundry, central air/gas forced heat, video intercom systems, custom closets, window treatments, and fireplaces. Kitchens feature quartz countertops and backsplashes, breakfast bars, stainless steel appliances, and custom cabinetry. Primary suites are elevated and include walk-in closets, double vanities, and walk-in showers. Duplex units offer added features such as butler pantries and heated lower levels. Exterior storage is also provided. The asking price is $2,750,000, representing a price per unit of $458,333.33. This turnkey investment offers a secure and lucrative venture in a thriving market. Showings are limited to one or two units initially, with 48-hour notice required. The property is located at 4846 S St Lawrence Ave, Chicago, IL 60615, in Cook County.