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2935 S Throop St 7 Unit Apartment Building $1,779,798 CAD ($254,257 CAD/Unit) 6.45% Cap Rate Chicago, IL 60608
INVESTMENT HIGHLIGHTS
- Prime Bridgeport Location
- Long Term Tenants
- Easy Access to I-55 & I-90
- Large Corner Building with Numerous Updates Completed
- Short Walk to CTA Orange Line and Steps to Palmisano Park
- Full Basement
EXECUTIVE SUMMARY
Large 7-unit brick apartment building at the coveted corner of Throop Street and 29th Street, offering a rare investment opportunity. This well-maintained property features spacious 1, 2, and 3-bedroom units, recently updated to attract quality tenants while retaining a few long-term residents for stability. With an annual rental income of $110,280, the below-market rents present significant upside potential for immediate revenue growth through strategic increases. Tenant-paid utilities and low operating expenses ensure strong cash flow, making this a low-maintenance, high-yield asset.
The building’s financial appeal is further enhanced by a successful 2024 tax appeal, resulting in a reduced property tax burden. Its corner location provides excellent visibility and accessibility, ideal for sustained tenant demand. With modern updates already in place and minimal upkeep required, this property is positioned for both short-term gains and long-term appreciation. Don’t miss the chance to acquire a turnkey multifamily investment with immediate value-add potential in a thriving rental market.
The building’s financial appeal is further enhanced by a successful 2024 tax appeal, resulting in a reduced property tax burden. Its corner location provides excellent visibility and accessibility, ideal for sustained tenant demand. With modern updates already in place and minimal upkeep required, this property is positioned for both short-term gains and long-term appreciation. Don’t miss the chance to acquire a turnkey multifamily investment with immediate value-add potential in a thriving rental market.
PROPERTY FACTS
| Price | $1,779,798 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $254,257 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.45% | Building Size | 6,440 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1890 |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $1,779,798 CAD |
| Price Per Unit | $254,257 CAD |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 6,440 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1890 |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 17-29-413-043-0000 | Improvements Assessment | $107,624 CAD |
| Land Assessment | $6,026 CAD | Total Assessment | $113,650 CAD |
PROPERTY TAXES
Parcel Number
17-29-413-043-0000
Land Assessment
$6,026 CAD
Improvements Assessment
$107,624 CAD
Total Assessment
$113,650 CAD
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2935 S Throop St
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