6938 S Clyde Ave - Apartments FOR SALE


Chicago, IL 60649
$2,650,000 USD
312-477-0197
6938 S Clyde Ave, Chicago, IL for Sale
$2,650,000 USD
Apartments - FOR SALE
1/13
null | 8.48% Cap Rate

6938 S Clyde Ave
Chicago, IL 60649


HIGHLIGHTS

  • High Curb Appeal Vintage Courtyard.
  • Desirable Jackson Park Highlands Location.
  • Attractive Unit Mix with 1, 2 and 3 Bedroom Layouts (Majority Are Duplex Style).
  • On Site Laundry.
  • Operational Upside.
  • Assumable Mortgage - 4.2%, ~$1,675,000 Balance, 2031 Maturity.

OVERVIEW

Interra Realty has been exclusively engaged to market 6938 S. Clyde Avenue, Chicago for sale. The subject investment property is a 27 unit, courtyard style, multifamily asset in the Jackson Park Highlands submarket of South Shore. The property boasts a large lobby, an on site management office and on site laundry for added tenant convenience. The attractive and diverse unit mix at the property ranges from large one bedroom to three bedroom apartments, twenty one of which have unique duplex floorplans. The units are heated via baseboard hot water and feature individual circuit breaker panels in each apartment. Recently, ownership has installed new common area hallway doors. A new buyer has the opportunity to take advantage of below market rents and capitalize on strong leasing momentum in the neighborhood. With high in place occupancy, the offering presents a mix of stability and operational upside. In addition, the property features an attractive assumable mortgage with an approximate balance of ~$1,675,000, 4.3% rate and 8/31/2031 maturity. The assumption would entail a 1% fee + legal review fees.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$94 USD /SF

# OF UNITS

27

PRICE/UNIT

$98,148

CAP RATE

8.48%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,711 SF

ZONING

-

APN/PARCEL ID

20-24-415-016-0000

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 Policy.