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3951 W Van Buren Street, Chicago, IL 60624
$610,000
3951 W Van Buren Street, Chicago, IL 60624View this property at 3951 W Van Buren Street, Chicago, IL 60624
3951 W Van Buren StreetChicagoIL60624
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Property Description
Pleased to exclusively offer for purchase the sale of 3951 W. Van Buren, a seven (7) unit walkup located in Chicago's historic West Garfield Park neighborhood. The property is located just one (1) block from Chicago's Blue Line "El" train station at Pulaski, and also just two (2) blocks from Garfield Park, which features ponds & gardens, athletic facilities, & the renowned Garfield Park Conservatory. 3951 W. Van Buren contains an extremely desirable unit mix of four (4) 2bd/1ba units and three (3) 3bd/1ba units, all of which feature hardwood flooring throughout. Additionally, all of the units, have been renovated and equipped with updated baths and kitchens and stainless steel appliances. Furthermore, the building boasts newer windows, in-unit laundry, in-unit furnaces & water heaters, newer roof, updated copper plumbing, newer electrical, and new porch (2021). 3951 W. Van Buren provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago's desirable pocket of West Garfield Park. From day one, a new owner will capitalize on an incredibly strong and subsidized tenant base, and will realize an in place cap rate of 10.13% and a cash on cash return of 22.26%. Through improved leasing, management, and raising rents to levels already being achieved in the building, an investor has the opportunity achieve a cap rate over 11% and a cash return over 26%.
Full Property Details
Full Property Details for 3951 W Van Buren St
General
- Sold For: $610,000
- Taxes: $7,944 (2021)
- Status: Closed
- Type: Commercial
- MLS ID: 11703023
- Added to Site: 309 day(s) ago
Parking
- Total Spaces: 4
Location
- Area: CHI - West Garfield Park
- County: Cook
- Driving Directions: From Congress Pkwy, turn north on to Pulaski, then West on Van Buren
Heating & Cooling
- Heating Type: Individual Furnaces
Structural Information
- Stories/Levels: 3
- Year Built: 1919
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 125 x 35
Financial Considerations
- Operating Expenses: $29,577
- Assessment Year: 1919
- Tax Amount: $7,944
- Tax Year: 2021
- Tenant Pays: Electricity, Heat, Hot Water
Disclosures and Reports
- Property ID: 16141120020000
Listed by Kiser Group Realty Inc
Sold by Kiser Group Realty Inc
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Schools
Schools serving 3951 W Van Buren St
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
3937 W Wilcox St, Chicago, IL 60624 | PK-8 | 0.2 mi | |
3250 W Adams St, Chicago, IL 60624 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 3951 W Van Buren St
Date
Details
Price
Change
Source
7/17/2023
Sold
$610,000
-12.86%
MLS
1/18/2023
Listed
$700,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
3951 W Van Buren Street, Chicago, IL 60624 (MLS# 11703023) is a Commercial property that was sold at $610,000 on July 17, 2023. Want to learn more about 3951 W Van Buren Street? Do you have questions about finding other Commercial real estate for sale in West Garfield Park? You can browse all West Garfield Park real estate or contact a Coldwell Banker agent to request more information.