6520 Gunnison St Harwood Heights, IL 60706

Property Details for 6520 Gunnison St

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.16 lot acres

Property size

4,646 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

13-07-422-031

APU

1307422031

Description

This exceptional three-unit apartment building presents a compelling value-add investment opportunity in Harwood Heights, Illinois. Situated on a 7,125 square foot corner lot directly across from Ridgemoor Country Club, this 4,646 square foot, all-brick building offers significant upside potential. Built in 1985 and renovated in 2010, the property boasts 100% occupancy with long-term tenants, currently generating a NOI of $25,102, representing a 2.79% cap rate. However, a pro-forma analysis projects a significantly improved NOI of $36,098 and a 4.01% cap rate, reflecting the potential for substantial rent increases. Each of the three units features three bedrooms and 1.1 bathrooms, a living room, dining area, and an eat-in kitchen. Upper units include private balconies. Appliances (refrigerator, stove with hood, and dishwasher) are included, while tenants provide their own washer/dryer. Individual gas and electric meters ensure efficient utility management, with tenants responsible for all utilities except water, which is included in the rent. This turnkey investment is easily managed and offers a rare combination of location, strong cash flow, and significant growth potential. The asking price is $899,900, translating to $299,967 per unit. The property's Cook County APN is 13074220310000.

Location Insight

City

Harwood Heights

County

Cook

State

Illinois

Longitude

-87.7914

Latitude

41.9687

CBSA code

16980

CBSA name

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

Property Tax & Assessments