8293 W Oak Avenue,Niles, IL 60714
Niles, IL 60714
Description
Rare Investment Opportunity - Fully Leased 6-Unit in Prime Niles Location! Welcome to 8293 W Oak Ave in Niles, IL-a rarely available investment opportunity offering immediate cash flow with strong value-add potential. Properties like this don't hit the market often! This well-maintained 6-unit brick building features five spacious 2-bedroom units and one 1-bedroom unit, all fully leased with long-term tenants. The property has been thoughtfully updated, including renovated kitchens and bathrooms in 2023 with quartz countertops, modern cabinetry, and stainless steel appliances. Additional improvements include energy-efficient windows installed in 2022 and select units featuring flawless hardwood flooring. Investors will appreciate the added income from coin-operated laundry machines (installed in 2023), six dedicated parking spaces, and a newly paved asphalt parking lot (completed in 2024). Key Investment Advantage: Rents have been kept below market rates out of courtesy to long-term tenants, presenting significant potential for future income growth. With rental prices in the area continuing to rise, this property offers an excellent opportunity to increase revenue while maintaining strong tenant retention. With a 7 cap rate, this property delivers an attractive return in a highly desirable location with top-rated schools, parks, shopping, and dining nearby. Schedule your private tour today-opportunities like this don't last!
Details
| MLS# | 12299545 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1967 |
| Days On Site | 56 |
| Listing Provided By | Coldwell Banker Realty | Alexandra Botiz |
Features
| SQ Feet | 5,049 |
|---|---|
| Story(s) | 3 |
| Units | 6 |
| Zoning | MULTI |
| Acreage | 0.16 |
Market Activity 60714
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Niles |
| Zip Code | 60714 |
| Area | Niles |
| Listing VS Median (in 60714) | |
Price: $1,199,000 low | high Med: $350,000 SqFt: 5,049 low | high Med: 1,103 $ / SqFt: $237 low | high Med: $317 On site: 56 low | high Med: 14.000000 | |