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500 E 82nd St 13 Unit Apartment Building $1,134,962 CAD ($87,305 CAD/Unit) Chicago, IL 60619
Investment Highlights
- Attractive entry basis
- Value add potential through cosmetic rehab
- Substantial upside remaining in rent roll; Average In Place Rent of $870
- Newer Windows, Porches, Boiler
Executive Summary
Interra Realty is pleased to present for sale the property located at 506 E. 82nd St. The subject investment property is an 13 unit, walk-up style, multifamily asset in the historic Grand Crossing neighborhood. The property is comprised entirely of one bedroom apartments.
The property has been pridefully maintained by current ownership and has attractive curb appeal. Features include newer windows, rear porches, masonry and a newer steam boiler. Additionally, there is a garden unit which is vacant and in need of rehab.
A new investor has the opportunity to acquire a stabilized property with an further upside remaining in the rent roll and bringing back a down unit online. Through capturing market rents, investors have the potential to achieve a 10%+ cap rate.
The property has been pridefully maintained by current ownership and has attractive curb appeal. Features include newer windows, rear porches, masonry and a newer steam boiler. Additionally, there is a garden unit which is vacant and in need of rehab.
A new investor has the opportunity to acquire a stabilized property with an further upside remaining in the rent roll and bringing back a down unit online. Through capturing market rents, investors have the potential to achieve a 10%+ cap rate.
Property Facts
| Price | $1,134,962 CAD | Building Class | C |
| Price Per Unit | $87,305 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 9,888 SF |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1924 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RT-4 - Residential | ||
| Price | $1,134,962 CAD |
| Price Per Unit | $87,305 CAD |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 9,888 SF |
| No. Stories | 3 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | $1,298 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 20-34-218-017-0000 | Improvements Assessment | $76,783 CAD |
| Land Assessment | $12,040 CAD | Total Assessment | $88,823 CAD |
Property Taxes
Parcel Number
20-34-218-017-0000
Land Assessment
$12,040 CAD
Improvements Assessment
$76,783 CAD
Total Assessment
$88,823 CAD
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500 E 82nd St
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