Listed by Chicago-Coldwell Banker Commercial NRT
$1,800,000
25-Unit Apartment Building in Southside Chicago
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 16,000
Units 25
Occupancy 100%
Year Renovated 2023
Investment Type Stabilized
Multifamily | 25 Units | $72,000/unit - Chicago Southside
Marketing description
25 Units: All 1 bedroom / 1 bathroom unit mix
Building Size: Approx. 16,250 square feet, 3 stories
Year Built: 1928, Class C building
Lot Size: 0.16 acres
Occupancy: 22 occupied
Zoning: RS-3
Improvements: ~$160,825
Cap Rate: 10%
Income
Monthly Rent (Total): $1,000
Annual Gross Income: $300,000
Expenses
Electric: $3,247/year
Gas: $6,595/year
Garbage: $6,382/year
Water & Sewer: $2,200/year
Management Fee: $10,000/year
Insurance: $15,000/year
Total Expenses: $39,024/year
Valuation (Using 10% Cap Rate)
Estimated Purchase Price: $2,487,760
Listing Contacts
Listed by Chicago-Coldwell Banker Commercial NRT
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