HIGHLIGHTS
- Property is approved for ASHAP, reducing the tax bill 10 years with two possible renewals
- [6] 1BD | 1BA Units [9] 2BD | 1BA Units [4] 4BD | 1BD Units
- The property is fully occupied, showcasing strong rental demand in the area and it has a strong history of high occupancy and collections
- Current cap rate of 8.7%, projected to increase to 10.3% on a stabilized basis
- Current rents below market with potential to increase to 1,150 for 1-bedroom units, $1,275 for 2- bedroom units, and $1,700 for 3-bedroom units
- 3 Units approved by city for additional ADU's
FOR SALE DETAILS
PRICE
$1,700,000 USD
PRICE/SF
$106 USD /SF
# OF UNITS
19
PRICE/UNIT
$89,474
CAP RATE
10.3%
% LEASED
83%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
4
YEAR BUILT
1914
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.16 AC
LAND SF
7,161 SF
ZONING
-
APN/PARCEL ID
20-21-126-017-0000
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
312-890-2232
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
312-890-2232
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
