7646 S Ingleside - Apartments FOR SALE


Chicago, IL 60619
$3,400,000 USD
312-610-1074
7646 S Ingleside, Chicago, IL for Sale
$3,400,000 USD
Apartments - FOR SALE
1/10
null | 9.6% Cap Rate

7646 S Ingleside
Chicago, IL 60619


HIGHLIGHTS

  • Professional Offering Memorandum Available Upon Request
  • Great In-Place Rents: Investor to Receive 9.6% Cap Returns on Day One
  • Ownership Has Upgraded All of the Units
  • Desirable Unit Mix of Entirely 2 Bedroom Units
  • 27 [87%] Subsidy Tenants
  • Meticulously Maintained and Professionally Operated by Local Owner

OVERVIEW

Essex Realty Group, LLC has been exclusively engaged to market for sale 7646 S Ingleside Ave, a 31-unit multifamily property in Chicago's Greater Grand Crossing neighborhood. Over the last two years, ownership has upgraded each of the units with the goal of getting top rents from subsidy agencies. This property features a favorable unit mix of entirely two-bedroom units with strong in-place rents, averaging $1,477. Additionally, there is strong history of collections as 27/31 units are occupied by subsidy tenants. This offering presents the rare opportunity for an investor to acquire a stabilized, exceptionally well managed asset with a desirable unit mix and high in place rents, allowing an investor to achieve 9.6% cap and 15.5% cash-on-cash returns on day one.

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$135 USD /SF

# OF UNITS

31

PRICE/UNIT

$109,677

CAP RATE

9.6%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,873 SF

ZONING

R-3, Chicago

APN/PARCEL ID

20-26-310-026-0000

ASK ABOUT THIS PROPERTY

Robert BermanEssex Realty Group, LLCMore Info
312-610-1074

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Robert BermanEssex Realty Group, LLCMore Info
312-610-1074

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