About this property

Tucked into a tree-lined stretch of Ravenswood, 4703 North Winchester Avenue is a handsome, turn-of-the-century brick building with a classic covered front porch and the vintage character that consistently commands a premium from renters. Every unit is a true one-bedroom, one-bathroom layout. 6 of 8 units have been updated while 2 of the remaining units have more vintage finishes, making this a great opportunity to cash flow in current condition, but still taking advantage of additional upside in rents. The location does the heavy lifting: a short walk to the CTA Brown Line, surrounded by Lincoln Square's shops and restaurants, minutes from Winnemac and Welles Parks, in a dense pocket of the city where quality rental housing is chronically undersupplied. Coin-operated laundry and tenant storage in the basement, tenant-paid electric, and a durable brick exterior round out a stabilized, cash-flowing asset in an irreplaceable North Side location - with a straightforward path to grow income simply by staying the course and light value-add strategy. Current gross rents are over $150k annually - a 10.19 GRM & 6.92% cap rate on current numbers!

Features and Additional Information