Equity Multiple Return
Property Type: Multifamily
Sold in Q4 of 2017, Mobile Ave Apartments is a 2 building, 24 unit 1970’s constructed apartment complex located in Oak Lawn, IL, a suburb of Chicago. The property is located near numerous retail shops including a grocery store and a large community park.
The property was wholly owned by First Capital Advisors Multi-Family Real Estate Fund, LP and managed by FCA Asset Management. FCA added value to the property by increasing rents to a market level and completing light renovations within nine apartment units.