735 E 88th St - Apartments FOR SALE


Chicago, IL 60619- Burnside
$497,500 USD
219-465-8584
735 E 88th St, Chicago, IL for Sale
$497,500 USD
Apartments - FOR SALE
1/17
null | 11.82% Cap Rate

735 E 88th St
Chicago, IL 60619
Burnside


OVERVIEW

OWNER FINANCING POTENTIALLY AVAILABLE - SUBJECT TO TERMS AND STRUCTURE 33 Realty is pleased to present for sale 735 E 88th, a six-unit multi-family investment property in the Chatham neighborhood of Chicago. The property is composed of six four-room 1-Bed/1-Bath apartments and a three-car garage that features updated electric, updated rear porch, central boiler heat (~8 years old), common hot water, newer windows, hardwood floors throughout, multiple units with updated kitchen and baths, and is located in a low-density pocket of south Chatham. 735 E 88th provides an excellent opportunity for an investor to re-lease the property to local subsidies that are currently offering $1300 to $1400 for one-bedroom residences with heat and hot water included. Upon stabilization, 735 E 88th has the potential to realize a 10-12% annual capitalization rate.

FOR SALE DETAILS

PRICE

$497,500 USD

PRICE/SF

$117 USD /SF

# OF UNITS

6

PRICE/UNIT

$82,917

CAP RATE

11.82%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1988

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,469 SF

ZONING

RS-2

APN/PARCEL ID

25-03-211-012-0000

ASK ABOUT THIS PROPERTY

Gene Hart33 RealtyMore Info
219-465-8584

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Gene Hart33 RealtyMore Info
219-465-8584

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