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Ivy at Drexel 5235-5245 S Drexel Ave 27 Unit Apartment Building $5,265,000 ($195,000/Unit) 7.19% Cap Rate Chicago, IL 60615
INVESTMENT HIGHLIGHTS
- High-Curb Appeal Vintage Asset
- Professionally Managed and Well-Maintained Property
- Most Units Feature In-Unit Laundry. All Have Individual HVAC
- Walking Distance from University of Chicago
- Updated Apartment Finishes and Common Areas
EXECUTIVE SUMMARY
Interra Realty has been exclusively engaged to market 5235 S. Drexel Avenue, Chicago, for sale. The subject investment property is a 27 unit, walk-up style multifamily asset in the Hyde Park Neighborhood. The property has high curb appeal and has significant frontage and presence on both Drexel and 53rd.
The subject investment property features an attractive mix of one, two, and three bedroom apartments. The finishes have been upgraded to feature granite countertops and stainless steel appliances. All apartments have separate HVAC and the larger format units have in-unit laundry equipment. There are six parking spaces which generate additional revenue in the rear of the property.
The subject investment property features an attractive mix of one, two, and three bedroom apartments. The finishes have been upgraded to feature granite countertops and stainless steel appliances. All apartments have separate HVAC and the larger format units have in-unit laundry equipment. There are six parking spaces which generate additional revenue in the rear of the property.
PROPERTY FACTS
| Price | $5,265,000 | Apartment Style | Low-Rise |
| Price Per Unit | $195,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 7.19% | Building Size | 25,944 SF |
| Gross Rent Multiplier | 8.63 | No. Stories | 3 |
| No. Units | 27 | Year Built | 1915 |
| Property Type | Multifamily | Parking Ratio | 0.23/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-5, Chicago | ||
| Price | $5,265,000 |
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 7.19% |
| Gross Rent Multiplier | 8.63 |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 25,944 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Parking Ratio | 0.23/1,000 SF |
| Zoning | RM-5, Chicago |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Sunroom
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,610 | 600 - 900 |
| 2+1 | 15 | $1,838 | 900 - 1,076 |
| 3+1 | 4 | $2,286 | 1,169 |
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Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 20-11-307-006-0000 | Improvements Assessment | $233,105 |
| Land Assessment | $91,624 | Total Assessment | $324,729 |
PROPERTY TAXES
Parcel Number
20-11-307-006-0000
Land Assessment
$91,624
Improvements Assessment
$233,105
Total Assessment
$324,729
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Ivy at Drexel | 5235-5245 S Drexel Ave
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