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7648 S Phillips Ave 31 Unit Apartment Building $3,253,575 CAD ($104,954 CAD/Unit) 9.56% Cap Rate Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- VALUE-ADD: Stabilized asset offering strong upside through significant rent growth potential with minimal capital outlay.
- STRATEGIC LOCATION: Within walking distance to public transit (Metra Electric District), Rainbow Beach, South Shore Cultural Center, and several major
- ATTRACTIVE BASIS: Offered at an appealing in-place cap rate (9.56%) and cash-on-cash return (16.08%), this asset is positioned well relative to rece
PROPERTY FACTS
| Price | $3,253,575 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $104,954 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 9.56% | Building Size | 24,898 SF |
| Gross Rent Multiplier | 4.98 | Average Occupancy | 100% |
| No. Units | 31 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $3,253,575 CAD |
| Price Per Unit | $104,954 CAD |
| Sale Type | Investment |
| Cap Rate | 9.56% |
| Gross Rent Multiplier | 4.98 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 24,898 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 400 - 500 |
| 1+1 | 13 | - | - |
| 2+1 | 9 | - | - |
| 2+2 | 3 | - | - |
1 1
Walk Score®
Very Walkable (77)
Transit Score®
Excellent Transit (70)
PROPERTY TAXES
| Parcel Number | 21-30-307-022-0000 | Improvements Assessment | $281,641 CAD |
| Land Assessment | $25,462 CAD | Total Assessment | $307,102 CAD |
PROPERTY TAXES
Parcel Number
21-30-307-022-0000
Land Assessment
$25,462 CAD
Improvements Assessment
$281,641 CAD
Total Assessment
$307,102 CAD
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7648 S Phillips Ave
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