Essex Realty Group, Inc., a brokerage firm specializing in multifamily properties, recently facilitated the sale of a three-property portfolio in Berwyn, IL. The 34-unit portfolio was purchased for $2,760,000 by local operators who are well-versed in the Berwyn market. The properties included in the portfolio are located at 3543 Harlem Ave., 6520 W. Windsor Ave., and 3225 Home Ave., all conveniently situated near both the Berwyn Metra Station and Harlem Avenue Metra Station.
Over the past two years, these properties have undergone significant upgrades with nine units receiving modern vinyl plank flooring as well as upgraded kitchens and bathrooms with new appliances.
According to Mariano Mollo of Essex Realty Group: “The sale of this Berwyn portfolio provided three local investors with immediate scale within a highly sought-after suburban rental market. While these properties were already in good condition, there is potential to further increase rental income through updates to remaining units.”
