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7704 S Emerald Ave 14 Unit Apartment Building $1,430,818 CAD ($102,201 CAD/Unit) 10.08% Cap Rate Chicago, IL 60620
INVESTMENT HIGHLIGHTS
- Prime Auburn Gresham Location
- On-Site Laundry Facility
- Fourteen (14) 1Bd/1Ba Units
- Modern Boiler w/ R&D Control System
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase 7704 S. Emerald, a fourteen (14) unit apartment building located in Chicago's Auburn Gresham neighborhood. The building sits on a quiet, residential block nestled amongst single-family residences and just blocks away from the neighborhood’s Hamilton Park. The property provides two easy points to access Chicago downtown: The Metra Gresham train stop or just a 20-minute drive taking the Dan Ryan Expressway.
7704 S. Emerald is comprised of fourteen (14) 1Bd/1Ba. All units are incredibly spacious featuring an abundance of natural light and hardwood flooring throughout. Recent improvements to the building include, but are not limited to, new boiler, new hot water tank, updated copper plumbing, on-site laundry facility, and updated copper plumbing.
7704 S. Emerald provides an investor with the opportunity to acquire a stabilized, cash-flowing property. From day one, its next owner will realize a cap rate of 10.08% and a cash return over 17.58%. Furthermore, solely by raising rents to levels already being attained in the building, an investor could achieve a cap rate of over 11.41% and cash return of nearly 23%.
7704 S. Emerald is comprised of fourteen (14) 1Bd/1Ba. All units are incredibly spacious featuring an abundance of natural light and hardwood flooring throughout. Recent improvements to the building include, but are not limited to, new boiler, new hot water tank, updated copper plumbing, on-site laundry facility, and updated copper plumbing.
7704 S. Emerald provides an investor with the opportunity to acquire a stabilized, cash-flowing property. From day one, its next owner will realize a cap rate of 10.08% and a cash return over 17.58%. Furthermore, solely by raising rents to levels already being attained in the building, an investor could achieve a cap rate of over 11.41% and cash return of nearly 23%.
PROPERTY FACTS
| Price | $1,430,818 CAD | Building Class | C |
| Price Per Unit | $102,201 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 20,326 SF |
| Cap Rate | 10.08% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | RS-3, Chicago | ||
| Price | $1,430,818 CAD |
| Price Per Unit | $102,201 CAD |
| Sale Type | Investment |
| Cap Rate | 10.08% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 20,326 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1929 |
| Opportunity Zone |
Yes |
| Zoning | RS-3, Chicago |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 700 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 20-28-314-017-0000 | Improvements Assessment | $90,004 CAD |
| Land Assessment | $7,716 CAD | Total Assessment | $97,720 CAD |
PROPERTY TAXES
Parcel Number
20-28-314-017-0000
Land Assessment
$7,716 CAD
Improvements Assessment
$90,004 CAD
Total Assessment
$97,720 CAD
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7704 S Emerald Ave
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