735 E 88th Street - 6-Unit Apartment Building
Multifamily | 6 Units | $82,917/unit
Marketing description
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.
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