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735 E 88th St
Chicago, IL 60619
Multifamily Property For Sale
·
6 Units
EXECUTIVE SUMMARY
33 Realty is pleased to present for sale 735 E 88th, a six-unit multi-family investment property in the Chatham neighborhood of Chicago.
The property is composed of six four-room 1-Bed/1-Bath apartments and a three-car garage that features updated electric, updated rear porch, central boiler heat (~8 years old), common hot water, newer windows, hardwood floors throughout, multiple units with updated kitchen and baths, and is located in a low-density pocket of south Chatham.
735 E 88th provides an excellent opportunity for an investor to re-lease the property to local subsidies that are currently offering $1300 to $1400 for one-bedroom residences with heat and hot water included. Upon stabilization, 735 E 88th has the potential to realize a 10-12% annual capitalization rate.
The property is composed of six four-room 1-Bed/1-Bath apartments and a three-car garage that features updated electric, updated rear porch, central boiler heat (~8 years old), common hot water, newer windows, hardwood floors throughout, multiple units with updated kitchen and baths, and is located in a low-density pocket of south Chatham.
735 E 88th provides an excellent opportunity for an investor to re-lease the property to local subsidies that are currently offering $1300 to $1400 for one-bedroom residences with heat and hot water included. Upon stabilization, 735 E 88th has the potential to realize a 10-12% annual capitalization rate.
PROPERTY FACTS
| Price Per Unit | $114,776 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 11.76% | Building Size | 4,236 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1899 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RS-2 | ||
| Price Per Unit | $114,776 CAD |
| Sale Type | Investment |
| Cap Rate | 11.76% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,236 SF |
| No. Stories | 3 |
| Year Built | 1899 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | RS-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Range
- Wi-Fi
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
PROPERTY TAXES
| Parcel Number | 25-03-211-012-0000 | Improvements Assessment | $29,086 CAD |
| Land Assessment | $4,669 CAD | Total Assessment | $33,755 CAD |
PROPERTY TAXES
Parcel Number
25-03-211-012-0000
Land Assessment
$4,669 CAD
Improvements Assessment
$29,086 CAD
Total Assessment
$33,755 CAD
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