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7846 S Essex Ave 32 Unit Apartment Building $1,950,000 ($60,938/Unit) 11.10% Cap Rate Chicago, IL 60649
Investment Highlights
- Professional Offering Memorandum Available Upon Request
- All Residential Units Leased Through Master Lease with Featherfist, Guaranteed 100% Collections
- 6/7 Commercial Units Occupied by Long Term Tenants
- [2] Studio | [23] 1BD/1BA | [7] Commercial
- 60K/Unit
Executive Summary
Nara Realty Advisors is pleased to exclusively present for purchase 7846 S Essex Ave, a 32-unit mixed-use property located in Chicago's South Shore neighborhood.
Property Facts
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $60,938 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 18,615 SF |
| Cap Rate | 11.10% | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 0.64/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | 50 | ||
| Price | $1,950,000 |
| Price Per Unit | $60,938 |
| Sale Type | Investment |
| Cap Rate | 11.10% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 18,615 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1923 |
| Parking Ratio | 0.64/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 50 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 375 - 650 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 21-30-326-025-0000 | Improvements Assessment | $244,994 |
| Land Assessment | $13,406 | Total Assessment | $258,400 |
Property Taxes
Parcel Number
21-30-326-025-0000
Land Assessment
$13,406
Improvements Assessment
$244,994
Total Assessment
$258,400
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7846 S Essex Ave
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