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1502 E 74th St 12 Unit Apartment Building $800,000 ($66,667/Unit) 13.42% Cap Rate Chicago, IL 60619
Investment Highlights
- Twelve (12) Spacious Units w/ Updated Kitchen & Baths
- Modern Boiler w/ R&D Control System
- On-Site Laundry Facility
- Prime South Shore Location
Executive Summary
Kiser Group is pleased to exclusively present for purchase 1502 E. 74th, a well-maintained twelve (12) unit building located in the desirable South Shore neighborhood of Chicago. The property benefits from its proximity to public transportation, The Obama Library, Lake Michigan, and a variety of local retail and neighborhood amenities.
1502 E. 74th features a unique unit mix consisting of eleven (11) 1Bd/1Ba units and one (1) studio unit, appealing to a wide rane of tenants. The units have hardwood floors throughout, offering a classic and durable finish that continues to attract renters. The property also includes an on-site laundry facility, providing added convenience for residents.
The building presents investors with a strong in-place cap rate of 13.42%, delivering exceptional day-one returns. Investors can also benefit from an impressive 31.53% cash-on-cash return, further enhancing the property's appeal as a high-performing asset. With its solid fundamentals, desirable unit composition, and added amenities, 1502 E. 74th offers a compelling opportunity for investors seeking a high-yield asset in a well-established and growing submarket.
1502 E. 74th features a unique unit mix consisting of eleven (11) 1Bd/1Ba units and one (1) studio unit, appealing to a wide rane of tenants. The units have hardwood floors throughout, offering a classic and durable finish that continues to attract renters. The property also includes an on-site laundry facility, providing added convenience for residents.
The building presents investors with a strong in-place cap rate of 13.42%, delivering exceptional day-one returns. Investors can also benefit from an impressive 31.53% cash-on-cash return, further enhancing the property's appeal as a high-performing asset. With its solid fundamentals, desirable unit composition, and added amenities, 1502 E. 74th offers a compelling opportunity for investors seeking a high-yield asset in a well-established and growing submarket.
Property Facts
| Price | $800,000 | Building Class | C |
| Price Per Unit | $66,667 | Lot Size | 0.08 AC |
| Sale Type | Investment | Building Size | 7,281 SF |
| Cap Rate | 13.42% | No. Stories | 3 |
| No. Units | 12 | Year Built | 1926 |
| Property Type | Multifamily | Parking Ratio | 1.37/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R | ||
| Price | $800,000 |
| Price Per Unit | $66,667 |
| Sale Type | Investment |
| Cap Rate | 13.42% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 7,281 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Parking Ratio | 1.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 600 |
| 1+1 | 11 | - | 700 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-26-223-008-0000 | Improvements Assessment | $54,035 |
| Land Assessment | $5,188 | Total Assessment | $59,223 |
Property Taxes
Parcel Number
20-26-223-008-0000
Land Assessment
$5,188
Improvements Assessment
$54,035
Total Assessment
$59,223
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1502 E 74th St
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