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447 E 82nd St 12 Unit Apartment Building $780,000 ($65,000/Unit) Chicago, IL 60619
Investment Highlights
- Attractive entry basis
- New Porches; Individual heat in each apartment
- Remaining upside in rent roll; Opportunity to achieve a 10% cap rate; Average rent of $890
- Value add opportunity through cosmetic updates; On-site gated private parking
Executive Summary
Interra Realty is pleased to present for sale the property located at 447 E. 82nd St. The subject investment property is a 12-unit, walk-up style, multifamily asset in the historic Chatham neighborhood. The property is comprised entirely of one bedroom apartments.
Apartments feature expansive layouts with both formal living and dining rooms. Each unit features individual heat, provided through a combination of gas forced air and baseboard hot water heat.
A new investor has the opportunity to acquire an almost fully occupied property with an further upside remaining in the rent roll. Through capturing market rents, potential investors have the ability to achieve a 10%+ cap rate.
Apartments feature expansive layouts with both formal living and dining rooms. Each unit features individual heat, provided through a combination of gas forced air and baseboard hot water heat.
A new investor has the opportunity to acquire an almost fully occupied property with an further upside remaining in the rent roll. Through capturing market rents, potential investors have the ability to achieve a 10%+ cap rate.
Property Facts Under Contract
| Price | $780,000 | Building Class | C |
| Price Per Unit | $65,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 12,000 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RT-4 - Residential | ||
| Price | $780,000 |
| Price Per Unit | $65,000 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 12,000 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Parking Ratio | 0.92/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 20-34-225-014-0000 | Improvements Assessment | $51,817 |
| Land Assessment | $8,854 | Total Assessment | $60,671 |
Property Taxes
Parcel Number
20-34-225-014-0000
Land Assessment
$8,854
Improvements Assessment
$51,817
Total Assessment
$60,671
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447 E 82nd St
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