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7646 S Ingleside Ave 31 Unit Apartment Building $3,200,000 ($103,226/Unit) 10.05% Cap Rate Chicago, IL 60619
EXECUTIVE SUMMARY
CRER is pleased to present 7646 S Ingleside Ave, a 31-unit apartment building located in Chicago’s Greater Grand Crossing neighborhood. The
property includes a desirable unit mix consisting of (31) 2 bedroom, 1 bathroom units. Each apartment includes spacious floor plans with updated
kitchen and baths throughout.
Capital improvements to the portfolio consist of updated electric/plumbing, renovated hallways, and on-site laundry. The current average rent is
$1,561 and approximately 79% of the total rent roll is paid by various government subsidies. This is a great opportunity for an investor to acquire
a fully stabilized property at a double-digit cap rate and a cash-on-cash return near 20%.
property includes a desirable unit mix consisting of (31) 2 bedroom, 1 bathroom units. Each apartment includes spacious floor plans with updated
kitchen and baths throughout.
Capital improvements to the portfolio consist of updated electric/plumbing, renovated hallways, and on-site laundry. The current average rent is
$1,561 and approximately 79% of the total rent roll is paid by various government subsidies. This is a great opportunity for an investor to acquire
a fully stabilized property at a double-digit cap rate and a cash-on-cash return near 20%.
PROPERTY FACTS
| Price | $3,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $103,226 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 10.05% | Building Size | 25,100 SF |
| Gross Rent Multiplier | 5.51 | Average Occupancy | 100% |
| No. Units | 31 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-3, Chicago | ||
| Price | $3,200,000 |
| Price Per Unit | $103,226 |
| Sale Type | Investment |
| Cap Rate | 10.05% |
| Gross Rent Multiplier | 5.51 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 25,100 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | R-3, Chicago |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Fireplace
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 31 | - | 900 - 1,000 |
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 20-26-310-026-0000 | Improvements Assessment | $160,720 |
| Land Assessment | $19,921 | Total Assessment | $180,641 |
PROPERTY TAXES
Parcel Number
20-26-310-026-0000
Land Assessment
$19,921
Improvements Assessment
$160,720
Total Assessment
$180,641
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7646 S Ingleside Ave
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