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7646 S Ingleside Ave 31 Unit Apartment Building $4,118,400 CAD ($132,852 CAD/Unit) 10.72% Cap Rate Chicago, IL 60619
Executive Summary
CRER is pleased to present 7646 S Ingleside Ave, a 31-unit apartment building located in Chicago’s Greater Grand Crossing neighborhood. The
property includes a desirable unit mix consisting of (31) 2 bedroom, 1 bathroom units. Each apartment includes spacious floor plans with updated
kitchen and baths throughout.
Capital improvements to the portfolio consist of updated electric/plumbing, renovated hallways, and on-site laundry. The current average rent is
$1,561 and approximately 79% of the total rent roll is paid by various government subsidies. This is a great opportunity for an investor to acquire
a fully stabilized property at a double-digit cap rate and a cash-on-cash return near 20%.
property includes a desirable unit mix consisting of (31) 2 bedroom, 1 bathroom units. Each apartment includes spacious floor plans with updated
kitchen and baths throughout.
Capital improvements to the portfolio consist of updated electric/plumbing, renovated hallways, and on-site laundry. The current average rent is
$1,561 and approximately 79% of the total rent roll is paid by various government subsidies. This is a great opportunity for an investor to acquire
a fully stabilized property at a double-digit cap rate and a cash-on-cash return near 20%.
Property Facts
| Price | $4,118,400 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $132,852 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 10.72% | Building Size | 25,100 SF |
| Gross Rent Multiplier | 5.17 | Average Occupancy | 100% |
| No. Units | 31 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-3, Chicago | ||
| Price | $4,118,400 CAD |
| Price Per Unit | $132,852 CAD |
| Sale Type | Investment |
| Cap Rate | 10.72% |
| Gross Rent Multiplier | 5.17 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 25,100 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | R-3, Chicago |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Fireplace
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 31 | - | 900 - 1,000 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-26-310-026-0000 | Improvements Assessment | $142,384 CAD |
| Land Assessment | $17,649 CAD | Total Assessment | $160,032 CAD |
Property Taxes
Parcel Number
20-26-310-026-0000
Land Assessment
$17,649 CAD
Improvements Assessment
$142,384 CAD
Total Assessment
$160,032 CAD
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7646 S Ingleside Ave
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