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1721-1725 E 79th St 24 Unit Apartment Building $2,100,000 ($87,500/Unit) 11.20% Cap Rate Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- The property is located just blocks from I-94
- 8 out of 9 residential occupied units are subsidy tenants & 2 out of 3 commercial units have been occupied for 5+ years
- This asset is poised to return a 9.9% cap rate through the strategic lease up of vacant units
- Averaging $1,200 for 1-Beds
- With high rent potential and a competitive market
EXECUTIVE SUMMARY
Nara Advisors is pleased to exclusively market for sale 7900 S Ridgeland, a 23-unit mixed-use building located in Chicago's South Shore neighborhood.
PROPERTY FACTS
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $87,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 11.20% | Building Size | 13,890 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | B3-2 | ||
| Price | $2,100,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 11.20% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 13,890 SF |
| No. Stories | 3 |
| Year Built | 1928 |
| Opportunity Zone |
Yes |
| Zoning | B3-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | - |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 20-36-101-009-0000 | Improvements Assessment | $77,643 |
| Land Assessment | $5,363 | Total Assessment | $83,006 |
PROPERTY TAXES
Parcel Number
20-36-101-009-0000
Land Assessment
$5,363
Improvements Assessment
$77,643
Total Assessment
$83,006
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1721-1725 E 79th St
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