7716-7718 S East End Ave - Apartments FOR SALE


Chicago, IL 60649- South Shore
$1,250,000 USD
248-977-0226
7716-7718 S East End Ave, Chicago, IL for Sale
$1,250,000 USD
Apartments - FOR SALE
1/8
null | 8.5% Cap Rate

7716-7718 S East End Ave
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Value add opportunity by increasing rents to market levels
  • Approx. 1/3rd of units have seen cosmetic updates to kitchens and baths
  • Newer hot water tank
  • Upgraded electrical service & copper plumbing throughout
  • Onsite laundry room
  • All 1 BD/1 BA units with spacious layouts

OVERVIEW

Interra Realty has been exclusively engaged to present for sale 7716-18 S. East End Ave. Located in Chicago's historic South Shore neighborhood, the subject property is a 16 unit building featuring all 1 BD/1 BA units. The asset presents significant upside through overhauling management and leasing operations and renovating units upon turnover to increase rents to market levels. The average 1 BD unit rents for $1,040. Approx. 1/3 of the units have seen some level of cosmetic upgrades over the course of current ownership. There is an on-site laundry room for tenant convenience. There have been upgrades to electric and plumbing throughout. The property presents a qualified investor with the opportunity to acquire a well located asset in the fast appreciating South Shore submarket with the ability to significantly drive NOI through renovating units upon tenant turnover and increasing rents.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$120 USD /SF

# OF UNITS

16

PRICE/UNIT

$78,125

CAP RATE

8.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R-4, Chicago

APN/PARCEL ID

20-25-317-024-0000

ASK ABOUT THIS PROPERTY

Max GrossmanInterra RealtyMore Info
248-977-0226

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Max GrossmanInterra RealtyMore Info
248-977-0226

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