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1818 W 78th St 6 Unit Apartment Building $599,000 ($99,833/Unit) 9.50% Cap Rate Chicago, IL 60620
INVESTMENT HIGHLIGHTS
- Great location in area with increasing rents.
- Recent updates and repairs - lintels, tuckpointing, roof.
- Stabilized with plenty of upside.
- Owner willing to consider financing for a qualified buyer.
EXECUTIVE SUMMARY
Solid, stabilized 6 flat in upcoming Auburn Gresham. Tenants pay their own heat in this five 2BD/1BA, One 3BD/1BA brick building. Excellent cap rate with added upside. Some units have been updated. Recent tuckpointing and lintels done (2022); new rubber roof with silver membrane (2020). 3 exterior parking spots and interior/exterior security cameras. One unit available to see for first showing. Owner financing for a qualified buyer is available. Call, email or text agent.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$77,532
|
$11.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,652
|
$0.71
|
| Effective Gross Income |
$72,880
|
$11.06
|
| Taxes |
$4,191
|
$0.64
|
| Operating Expenses |
$11,797
|
$1.79
|
| Total Expenses |
$15,988
|
$2.43
|
| Net Operating Income |
$56,892
|
$8.64
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $77,532 |
| Annual Per SF | $11.77 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,652 |
| Annual Per SF | $0.71 |
| Effective Gross Income | |
|---|---|
| Annual | $72,880 |
| Annual Per SF | $11.06 |
| Taxes | |
|---|---|
| Annual | $4,191 |
| Annual Per SF | $0.64 |
| Operating Expenses | |
|---|---|
| Annual | $11,797 |
| Annual Per SF | $1.79 |
| Total Expenses | |
|---|---|
| Annual | $15,988 |
| Annual Per SF | $2.43 |
| Net Operating Income | |
|---|---|
| Annual | $56,892 |
| Annual Per SF | $8.64 |
PROPERTY FACTS Under Contract
| Price | $599,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $99,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 9.50% | Building Size | 6,588 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1926/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.46/1,000 SF |
| Zoning | RS-2 - R-3; residential multi-family on South Honore and 78th Street on a block with low density housing. | ||
| Price | $599,000 |
| Price Per Unit | $99,833 |
| Sale Type | Investment |
| Cap Rate | 9.50% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 6,588 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1926/2024 |
| Parking Ratio | 0.46/1,000 SF |
| Zoning | RS-2 - R-3; residential multi-family on South Honore and 78th Street on a block with low density housing. |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Fenced Lot
- Security System
- Gas Range
- Vintage Building
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $1,100 | - |
| 3+1 | 1 | $1,150 | - |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 20-30-423-018-0000 | Total Assessment | $37,187 |
| Land Assessment | $1,875 | Annual Taxes | $4,191 ($0.64/SF) |
| Improvements Assessment | $35,312 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
20-30-423-018-0000
Land Assessment
$1,875
Improvements Assessment
$35,312
Total Assessment
$37,187
Annual Taxes
$4,191 ($0.64/SF)
Tax Year
2024
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1818 W 78th St
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