500 E 82nd St - Apartments FOR SALE


Chicago, IL 60619- Chatham
$820,000 USD
312-477-0197
500 E 82nd St, Chicago, IL for Sale
$820,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

500 E 82nd St
Chicago, IL 60619
Chatham


HIGHLIGHTS

  • Attractive entry basis
  • Substantial upside remaining in rent roll; Average In Place Rent of $870
  • Value add potential through cosmetic rehab
  • Newer Windows, Porches, Boiler

OVERVIEW

Interra Realty is pleased to present for sale the property located at 506 E. 82nd St. The subject investment property is an 13 unit, walk-up style, multifamily asset in the historic Grand Crossing neighborhood. The property is comprised entirely of one bedroom apartments. The property has been pridefully maintained by current ownership and has attractive curb appeal. Features include newer windows, rear porches, masonry and a newer steam boiler. Additionally, there is a garden unit which is vacant and in need of rehab. A new investor has the opportunity to acquire a stabilized property with an further upside remaining in the rent roll and bringing back a down unit online. Through capturing market rents, investors have the potential to achieve a 10%+ cap rate.

FOR SALE DETAILS

PRICE

$820,000 USD

PRICE/SF

$83 USD /SF

# OF UNITS

13

PRICE/UNIT

$63,077

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

RT-4

APN/PARCEL ID

20-34-218-017-0000

ASK ABOUT THIS PROPERTY

Lucas FrymanInterra RealtyMore Info
312-477-0197

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Lucas FrymanInterra RealtyMore Info
312-477-0197

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.