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Cheltenham Place 3075 E Cheltenham Pl 60 Unit Apartment Building $5,650,000 ($94,167/Unit) 9.10% Cap Rate Chicago, IL 60649
Investment Highlights
- Stabilized / Proforma Cap Rate of 9.10% / 10.85% Cash on Cash: 13.64% / 20.65%
- Below Market Rents and High Vacancy Provide Immediate Upside
- Recent $2,000,000+ Renovation Completed
- Strong South Shore Location – Steps from Lake Michigan and the $20B Quantum Computing Campus Development
Property Facts
| Price | $5,650,000 | Building Class | C |
| Price Per Unit | $94,167 | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 39,652 SF |
| Cap Rate | 9.10% | Average Occupancy | 33% |
| Gross Rent Multiplier | 6.66 | No. Stories | 4 |
| No. Units | 60 | Year Built | 1951 |
| Property Type | Multifamily | Parking Ratio | 0.81/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | RM-5 | ||
| Price | $5,650,000 |
| Price Per Unit | $94,167 |
| Sale Type | Investment |
| Cap Rate | 9.10% |
| Gross Rent Multiplier | 6.66 |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 39,652 SF |
| Average Occupancy | 33% |
| No. Stories | 4 |
| Year Built | 1951 |
| Parking Ratio | 0.81/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Heating
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Range
- Double Pane Windows
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 420 |
| 1+1 | 58 | - | 480 - 550 |
Property Taxes
| Parcel Number | 21-30-417-026-0000 | Improvements Assessment | $330,268 |
| Land Assessment | $21,750 | Total Assessment | $352,018 |
Property Taxes
Parcel Number
21-30-417-026-0000
Land Assessment
$21,750
Improvements Assessment
$330,268
Total Assessment
$352,018
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Cheltenham Place | 3075 E Cheltenham Pl
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