7705-13 South Laflin Street
- 22-Unit Multifamily Asset with a diverse unit mix: 8x 1Bd/1Ba | 10x 2Bd/1Ba | 4x 3Bd/1Ba
- 100% Occupied with strong in-place income
- Attractive 10.3% in-place cap rate with a projected 11.6% stabilized cap rate
- Strong investor returns with a projected 20.3% in-place and 26.5% stabilized cash-on-cash return
- Renovated Units enhancing tenant appeal and rental growth potential
- Major Capital Improvements: 1,200-amp electrical service upgrade
- Boiler Building with centralized heating system
Property Description
Essex Realty Group, LLC is pleased to present the opportunity to acquire a 22-unit multifamily property located in the Auburn Gresham neighborhood of Chicago's South Side. The property features a desirable mix of one-, two-, and three-bedroom apartments and is currently 100% occupied, offering investors immediate cash flow at an attractive 10.3% in-place cap rate. Approximately 45% of the tenancy is subsidized, providing a stable income stream while maintaining meaningful exposure to market-rate rental growth. The property has benefited from recent capital improvements, including renovated units, upgraded electrical service, and continued plumbing improvements. Located on a residential block comprised primarily of single-family homes, the asset offers a desirable neighborhood setting while remaining well-positioned to benefit from Auburn Gresham's strong multifamily investment fundamentals. With conservative rent upside and limited near-term capital expenditure requirements, the offering presents an opportunity to acquire a stabilized investment with durable cash flow and long-term appreciation potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,870,000 |
| No. of Units: | 22 |
| Opportunity Zone: | No |
| Price per unit: | $85,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
450-490 Jasper Road
Centerton, Arkansas
1155 West McNichols Road
Detroit, Michigan
4915 S Drexel Blvd
Chicago, IllinoisBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout