7450 South Luella Avenue
- Attractive basis with upside potential
- 11% cap rate and 30%+ projected cash return
Property Description
Real Realty is pleased to present the exclusive offering of Leulla Heights, a mixed-use investment opportunity located along the busy 75th Street retail corridor and surrounded by a strong residential neighborhood near Luella Avenue. The property consists of 13 studio apartments and four commercial storefronts. Apartments are achieving premium rents of $1,000–$1,500 per month, while commercial spaces range from $700–$1,500 per month, depending on size. Leulla Heights offers investors an attractive 11% cap rate and a projected 20%+ cash-on-cash return, providing strong in-place cash flow with additional upside potential. The property is supported by solid mechanicals, including a Smith cast-iron boiler installed in 2014 and two 73-gallon hot water tanks installed in 2023. This is a rare opportunity to acquire a true cash-flowing asset with value-add potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,045,000 |
| No. of Units: | 17 |
| Year Built: | 1930 |
| Lot Size: | 0.16 Acres |
| Opportunity Zone: | No |
| Price per unit: | $61,471 |
| Property Website | Click Here |
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