The Strength of Teamwork...The Reputation for Results!
Courtesy of: Great Lakes Realty Central Inc
Days On Market: 21
Year Build: 1907
Square Footage: 9,234 Sq ft
Address: 4943 S Forrestville Avenue
Neighborhood: Chi - Grand Boulevard
Property Taxes: $12,693
Tax Year: 2020
This majestic & impeccable red brick & limestone boutique center entrance eight unit, BETTER than condo quality, rental apartment building, is on one of the best streets in east Bronzeville. The building's exquisite, high caliber renovated apartments are synonymous w/ today's top notch luxurious condos with 21st Century accouterments, yet maintains the graciousness of old world quality & elegance. Enter into the gorgeous common areas & appreciate the marriage of modern flare with traditional style. All-encompassing vast capital improvements entail a hand fabricated metal cornice, new roof, generator system, overhead entrance code operated gated parking & even irrigation system! The tenants love their homes & private terraces with mature, strategically planted trees that create a secluded oasis. With current long term residents, the building's cap rate of 6.76% & NOI of$128,194 can be easily adjusted to today's market rents & a cap of 7.4% & an NOI of $140,246 -without spending a penny. The successes to the owner's legacy are two factors: superb care for the asset & its great residents. Hence, the new owner steps into a fully occupied & renovated turnkey property. All 8 luxury rentals are ultra-chic 2 bed/2 bath apartments, w/ individual HVAC, half circular living rooms, open dining rooms, 7" crown moldings, SS closet organizers in an amazing amount of closets, SS appliances, slab granite countertops, 42" upper cabinets, front loading euro washers & dryers, hip lighting, Decora switches & dimmers, strategically placed cable for flat screens, 2" horizontal blinds & a lot more. Superbly located amongst new construction homes & 2 blocks to Dyetts's School for the Arts, Washington Park, Provident Hospital & buses. Close to the Green Line Train, Hyde Park, LSD, 90/94 & I-55. This is rare opportunity to buy a truly remarkable asset.
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