Listed by Kiser Group
$840,000
736 E. 81st Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,000
Units 13
Cap Rate 11.00%
Pro-Forma Cap Rate 12.00%
Price per SqFt $93
Multifamily | 11.00% CAP | 13 Units
Marketing description
Kiser Group is pleased to exclusively offer for purchase the sale of 736 E. 81st, a meticulously maintained thirteen (13) unit property in Chicago’s highly desirable Chatham neighborhood. Renters are attracted to the neighborhood given its suburban and residential feel while still maintaining its urban environment. Additionally, the building sits just one block off the neighborhood’s commercial corridor along Cottage Grove featuring an assortment of retail and grocery options
736 E. 81st is currently comprised of nine (9) 1Bd/1Ba and four (4) 2Bd/1Ba units. All of which, however, are incredibly spacious and feature an abundance of natural light. Recent capital improvements to the building consist of, but not limited to: newer porches, brand new boiler w/ R&D control system, and an abundance of masonry and tuckpointing work.
736 E. 81st presents an investor an unique opportunity to acquire a strong, positive cash-flowing building in an incredibly desirable pocket of Chatham. From day one, an investor will realize an in-place cap rate of 11% along with an equally impressive double-digit cash return of 21.23%. Furthermore, solely by increasing rents to rents that are already being achieved in the area, there is an opportunity to achieve over a 12% cap rate.
13 Units | Chatham
Investment highlights
- Four (4) 2Bd/1Ba & Nine (9) 1Bd/1Ba
- Brand New Weil-McLain Boiler w/ R&D Control System (2025)
- Spacious Units w/ Separate Living and Dining Rooms
- Value Add Play by Converting 1Bd/1Ba to 2Bd/1Ba Units
Listing Contacts
Listed by Kiser Group
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