4337 Prescott Ave & 7821 43rd St | Lyons, IL

4337 Prescott Ave Lyons, IL 60534

4337 Prescott Ave, Lyons, IL, 60534
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$3,100,000
Last Verified:
Oct 09, 2024

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Highlights

  • Two 12-Unit Multifamily Properties, Located Blocks Apart
  • Mix of Four One-Bedroom and Eight Two-Bedroom Units Per Property
  • Fully Occupied, Immediate Cash Flow
  • Recent Upgrades: New Heating, Security Systems, and Unit Renovations
  • Owned Washers/Dryers in On-Site Laundry
  • Individual Unit Heating Controls, Updated Bathrooms
  • Ample On-site Parking
  • Easy Access to Highways, Metra, and PACE Bus
  • Close to Retail, Dining, Schools, and Brookfield Zoo
  • Stable Occupancy with Value-Add Potential

Description

eXp Commercial is pleased to present this exclusive offering of a two-property, 24-unit multifamily portfolio in Lyons, Illinois. The portfolio includes 4337 South Prescott Avenue and 7821 West 43rd Street, located just blocks apart, providing streamlined management and operational efficiency. Each property consists of 12 units, offering a mix of four one-bedroom/one-bathroom units and eight two-bedroom/one-bathroom units, catering to a range of tenant needs. Both properties are fully occupied, offering investors immediate cash flow from a stable tenant base.

Recent capital improvements across both properties include new heating systems, modernized security systems with HD video cameras, and selective unit renovations. Each property is equipped with owned washers and dryers in on-site laundry facilities, offering convenience for tenants and an additional revenue stream. Ample off-street parking further enhances the appeal of these properties. Additionally, individual unit heating controls and updated bathrooms provide comfort for tenants and ease of management for new ownership.

This portfolio presents a rare opportunity to acquire two well-maintained assets with significant potential for increased returns through continued unit updates and rental adjustments as leases renew.

Lyons, a Cook County suburb located 13 miles southwest of downtown Chicago, offers convenient access to Route 34, Route 43, and Interstate 55, as well as the Riverside Metra Station and nearby PACE bus stops, making it ideal for commuters. Positioned near Ogden Avenue, the properties are close to retail and dining options like ALDI, Jewel-Osco, and Starbucks, with parks, schools, and Brookfield Zoo nearby. The West Cook County multifamily market is characterized by strong rental demand, low vacancy rates, and limited new construction, providing a stable environment for investors seeking long-term returns.


Year Built: 1966
Building Size: 24831sq ft
Lot Size: 0.63 acres

Map of 4337 Prescott Ave, Lyons, IL, 60534

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.