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1721 W 65th St 6 Unit Apartment Building $535,000 ($89,167/Unit) 15.00% Cap Rate Chicago, IL 60636
Investment Highlights
- Little to no Deferred Maintenance
- Upside potential on income and possible conversion for easier exit down the line
- Immediate Cash Flow with 13 Cap Rate
Executive Summary
This recently renovated 6 unit mixed use building on Chicago's South Side in the Englewood
community offers a fantastic investment opportunity. The unit mix includes three 3 bed 2 bath
units, two 2 bed 1 bath units, all with similar finishes and one commercial space with a full bath.
Most units are rented at near market rates, providing immediate cashflow. With only one unit
vacant, the property is easy to show and has great upside potential for increased income. There is
very little deferred maintenance, making it a low-risk addition to your portfolio. This property
offers the incoming investor several options for adding value - one being building out a kitchen in
the commercial space for easy conversion to a residential unit as best use. it's also possible to
split the property into two separate buildings for an easier exit down the line. Two of the units
have in unit laundry while the 65th Street side of the property benefits from shared Coin Operated
Laundry. Eligible for various financing options, this property is perfect for investors looking to
capitalize on the potential of Class C neighborhoods. Contact the listing agent for more
information on funding options.
community offers a fantastic investment opportunity. The unit mix includes three 3 bed 2 bath
units, two 2 bed 1 bath units, all with similar finishes and one commercial space with a full bath.
Most units are rented at near market rates, providing immediate cashflow. With only one unit
vacant, the property is easy to show and has great upside potential for increased income. There is
very little deferred maintenance, making it a low-risk addition to your portfolio. This property
offers the incoming investor several options for adding value - one being building out a kitchen in
the commercial space for easy conversion to a residential unit as best use. it's also possible to
split the property into two separate buildings for an easier exit down the line. Two of the units
have in unit laundry while the 65th Street side of the property benefits from shared Coin Operated
Laundry. Eligible for various financing options, this property is perfect for investors looking to
capitalize on the potential of Class C neighborhoods. Contact the listing agent for more
information on funding options.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $535,000 | Building Class | C |
| Price Per Unit | $89,167 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 5,648 SF |
| Cap Rate | 15.00% | Average Occupancy | 83% |
| Gross Rent Multiplier | 4.9 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1911/2021 |
| Property Type | Multifamily | Parking Ratio | 0.18/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | mixed use - This property hasn't had a true commercial storefront in over 15 years; the best use for the commercial space would be to convert it to residential | ||
| Price | $535,000 |
| Price Per Unit | $89,167 |
| Sale Type | Investment |
| Cap Rate | 15.00% |
| Gross Rent Multiplier | 4.9 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 5,648 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1911/2021 |
| Parking Ratio | 0.18/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | mixed use - This property hasn't had a true commercial storefront in over 15 years; the best use for the commercial space would be to convert it to residential |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Basement
- Deck
- Porch
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,350 | 900 |
| 3+2 | 3 | $1,500 | 1,200 |
| Studios | 1 | $1,500 | 1,100 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-19-221-001-0000 | Total Assessment | $19,001 (2025) |
| Land Assessment | $1,661 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $17,340 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
20-19-221-001-0000
Land Assessment
$1,661 (2025)
Improvements Assessment
$17,340 (2025)
Total Assessment
$19,001 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1721 W 65th St
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