4703 N Winchester Avenue Chicago, IL 60640
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!
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Listing Office: Horvath & Tremblay IL, LLC
Listing Office Phone: 312-361-1643
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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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