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6900 S Vernon Ave 12 Unit Apartment Building $1,049,000 ($87,417/Unit) 10.10% Cap Rate Chicago, IL 60637
Investment Highlights
- The property underwent a full renovation in 2018, ensuring modern {nishes and updated systems for long-term value.
- Current cap rate of 8.8%, projected to increase to 10.1% on a stabilized basis
- Ability to increase 1-bedroom rents to $1,200 from their current $1,070 average and opportunity to push 2-bedroom rents to $1,350 from their $1,217 cu
- Within walking distance to the King Drive Green Line stop, offering great public transportation options
- Convenient access to the 94 highway, providing easy commuting options for tenants.
Executive Summary
Nara Advisors is pleased to exclusively market for sale 6900 S Vernon, a 12-unit apartment building located in Chicago's Greater Grand Crossing neighborhood.
Property Facts
| Price | $1,049,000 | Building Class | C |
| Price Per Unit | $87,417 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 7,054 SF |
| Cap Rate | 10.10% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2019 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B2-3 | ||
| Price | $1,049,000 |
| Price Per Unit | $87,417 |
| Sale Type | Investment |
| Cap Rate | 10.10% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 7,054 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2019 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | B2-3 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (71)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 20-22-414-020-0000 | Improvements Assessment | $85,556 |
| Land Assessment | $6,944 | Total Assessment | $92,500 |
Property Taxes
Parcel Number
20-22-414-020-0000
Land Assessment
$6,944
Improvements Assessment
$85,556
Total Assessment
$92,500
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6900 S Vernon Ave
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