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70-74 E 138th St 18 Unit Apartment Building $930,000 ($51,667/Unit) 14.10% Cap Rate Riverdale, IL 60827
Investment Highlights
- All 2-Bedroom | 1-Bathroom units
- $55.5K Per Unit
- Property is approved for the ASHAP program, reducing real estate taxes by 30% yearly
- Currently operating at a 11.5% cap rate and is projected to generate a 16.2% cap rate
- Tenants pay heat at this building
- Opportunity to increase 2-bedroom rents from their average of $994 to the market rent of $1,200
Executive Summary
Nara Advisors is pleased to exclusively market for sale 70 E 138th St, an 18-unit apartment building located in Riverdale, Illinois.
Property Facts
| Price | $930,000 | Building Class | C |
| Price Per Unit | $51,667 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 17,178 SF |
| Cap Rate | 14.10% | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3, Riverdale | ||
| Price | $930,000 |
| Price Per Unit | $51,667 |
| Sale Type | Investment |
| Cap Rate | 14.10% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 17,178 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Opportunity Zone |
Yes |
| Zoning | R-3, Riverdale |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 18 | - | - |
1 1
Property Taxes
| Parcel Number | 29-04-207-042-0000 | Improvements Assessment | $25,250 |
| Land Assessment | $3,141 | Total Assessment | $28,391 |
Property Taxes
Parcel Number
29-04-207-042-0000
Land Assessment
$3,141
Improvements Assessment
$25,250
Total Assessment
$28,391
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70-74 E 138th St
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