Kiser Group is pleased to present for sale 4220 W. Armitage, a six (6) unit mixed-use building consisting of two (2) 3b/1ba units, two (2) 2b/1ba, one (1) 1b/1ba, and one (1) retail space occupied by the Shalon Christian Center. This property has had the same ownership for over thirty (30) years. Despite updating units and mechanical systems, management has kept rents exceptionally low for the long-term tenancy. The opportunity to add value exists without renovation by simply raising rents to market levels. While the apartments are in good rental condition, there is also an opportunity to drastically increase rents with light renovation. Recent capital improvements include a complete replacement of the face bricks and front windows, newer porch, newer furnaces in the upstairs units, a newer hot water boiler that heats the first floor units and copper plumbing in the rear units.
Key Points: Value-add investment opportunity Strong rental upside "as-is" Substantial rental upside with renovation All leases are month-to-month Close proximity to public transportation
Asking Price: $425,000
Building Size: 4,650 SQ FT
Lot Size: 3125
Cost per Square Foot: $91.40