949-953 E 86th St - Apartments FOR SALE


Chicago, IL 60619
$2,497,000 USD
773-750-1630
949-953 E 86th St, Chicago, IL for Sale
$2,497,000 USD
Apartments - FOR SALE
1/51
null | 8.04% Cap Rate

949-953 E 86th St
Chicago, IL 60619


HIGHLIGHTS

  • Exceptional opportunity 15 unit, 8 garage, fully occupied (one unit under renovation)
  • $201k NOI, 8% CAP, $24k monthly cash flow from eight 2bed, seven 1bed, eight single garages, coin laundry
  • Stable tenants with multi-year leases remaining (18.1 mo avg)--some to 2028, provide value-add NPV boost
  • 5.3 year average tenant-tenure, desirable units, EZ transportation, apartment wait list
  • Inflation hedge with annual subsidized rent increases, 20yr same owner, 7 space value-add fee parking
  • East Chatham, 72 "Good" mobility, quiet, tree-lined, adjacent Metra (87th St/Woodruff), 1 mi to I-94, 1 mi to CTA Red Line

OVERVIEW

Exceptional opportunity 15 unit, 8 garage, fully occupied (one unit under renov.) | $201k NOI, 8% CAP | Stable tenants with multi-year leases remaining (18.1mo avg)--some to 2028, provide value-add NPV boost | $24k monthly cash flow from eight 2bed, seven 1bed, eight single garages, coin laundry | 7 space value-add fee parking | 5.3 yr avg tenant-tenure, desirable units, EZ transportation, apartment wait list | Inflation hedge with annual subsidized rent increases | 20yr same owner | East Chatham, 72 "Good" mobility, quiet, tree-lined, adjacent Metra (87th St/Woodruff), 1 mi to I-94, 1 mi to CTA Red Line | Zero-deferred maintenance: high-efficiency boiler (2024), garage roof (2024), security cameras/system (2023), tuckpointing (2021), coin laundry (2021), garage doors (2021), crawlspace drain tile (2021), 50yr HD roof (2018)--warranty through 2028, low-E aluminum windows, R-40 attic insulation

FOR SALE DETAILS

PRICE

$2,497,000 USD

PRICE/SF

$196 USD /SF

# OF UNITS

15

PRICE/UNIT

$166,467

CAP RATE

8.04%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

RS-3, Chicago

APN/PARCEL ID

20-35-317-024-0000

ASK ABOUT THIS PROPERTY

Jim PappasPappas Realty Group, Ltd.More Info
773-750-1630

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Jim PappasPappas Realty Group, Ltd.More Info
773-750-1630

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