1645 E. 85th Place
- Sixteen (16) 1Bd/1Ba & (4) Studio Units
- Modern Boiler with R&D Control System
- In-Place Rents 30% Below Comparable Market Rents
- Prime Calumet Heights Location
Property Description
Kiser Group is pleased to exclusively present for purchase 1643 E. 85th Place, a Twenty (20) unit courtyard located in Chicago's Calumet Heights neighborhood. 1643 E. 85th Pl sits in Chicago’s South Side, offering residents solid connectivity with multiple transit options nearby and quick access to major roadways. Local amenities include nearby grocery stores, schools, and abundant park space, making it a location that blends convenience with neighborhood charm. 1643 E. 85th Pl consists of Sixteen (16) 1Bd/1Ba & Four (4) studio units. All of which have spacious layouts. Recent improvements to the building consist of but are not limited to: modern boiler, code-compliant porches, and an abundance of masonry and tuckpointing work. 1643 E. 85th Pl presents an investor the opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 10.02% and cash return of 17.92%. By increasing rents to rates already achieved in the area, there is an opportunity to achieve a 15.97% cap rate and a proforma cash return of 41.70%
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,350,000 |
| No. of Units: | 20 |
| Opportunity Zone: | No |
| Price per unit: | $67,500 |
| Property Website | Click Here |
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