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8000 S Hermitage Ave 8000 S Hermitage Ave 12 Unit Apartment Building $1,095,000 ($91,250/Unit) 10.50% Cap Rate Chicago, IL 60620
Investment Highlights
- Property is currently generating 157K in collected Income and is projected to collect $166k at stabilization
- Current cap rate of 9.2%, projected to increase to 10.5% on a stabilized basis
- All units are individually furnaced
- Close proximity to retailers such as CVS Pharmacy, Wendy's, Subway, White Castle, & Walmart
- Current rents below market with potential to increase to $1,250 for 2-bedroom units, $1,375 for 3- bedroom units, and $1,700 for 3-bedroom units
- [6] 2-Bedroom/1-Bathroom Units & [6] 3-Bedroom/1-Bathroom Units
Executive Summary
Nara Advisors is pleased to exclusively market for sale 8000 S Hermitage, a 12-unit apartment building located in Chicago's Auburn Gresham neighborhood.
Property Facts
| Price | $1,095,000 | Apartment Style | Garden |
| Price Per Unit | $91,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 10.50% | Building Size | 7,323 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RS 3 | ||
| Price | $1,095,000 |
| Price Per Unit | $91,250 |
| Sale Type | Investment |
| Cap Rate | 10.50% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,323 SF |
| No. Stories | 3 |
| Year Built | 1929 |
| Opportunity Zone |
Yes |
| Zoning | RS 3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
| 3+1 | 6 | - | - |
1 1
Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 20-31-212-019-0000 | Improvements Assessment | $67,338 |
| Land Assessment | $7,362 | Total Assessment | $74,700 |
Property Taxes
Parcel Number
20-31-212-019-0000
Land Assessment
$7,362
Improvements Assessment
$67,338
Total Assessment
$74,700
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8000 S Hermitage Ave | 8000 S Hermitage Ave
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