3253 N Elston Ave Chicago, IL 60618

Property Details for 3253 N Elston Ave

Year built

2024

Property type

Commercial real estate

Description

This exceptional 4-unit apartment building, constructed in 2024, presents a compelling investment opportunity in Chicago's desirable Avondale neighborhood. The property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $151,500, resulting in a 4.56% cap rate. The asking price is $3,325,000, with each unit priced at $831,250. The building comprises four units: one 3-bedroom, 3-bathroom duplex-down unit (with two bedrooms upstairs and one downstairs), and three additional 3-bedroom, 2-bathroom units. All units feature premium finishes, high ceilings, abundant natural light, in-unit laundry, dark-stained hardwood floors (except for polished concrete floors in the first-floor duplex), and private outdoor space. Residents enjoy access to a shared roof deck offering unobstructed 180-degree skyline views. A unique 4-car interior garage includes an automobile turntable. The fourth-floor unit has a private rooftop deck. The building's prime location offers easy access to Logan Square, Bucktown's boutiques, and major retail areas. Convenient public transportation is available via the #77 CTA Belmont bus, and the Kennedy Expressway is a half-mile away for easy commutes. This turn-key investment property is poised for rapid appreciation in a thriving submarket. The building features four parking spaces.