808 W. 76th Street
- 12% Cap Rate at List Price
- Meticulously Maintained Units w/ Updated Kitchens & Baths
- Newer Boiler (2020)
- Significant Room to Increase Rents
- Prime Auburn Gresham Location
Property Description
Kiser Group is pleased to exclusively offer for purchase the sale of 808 W. 76th St, a forty-five (45) unit building in the historic Auburn Gresham neighborhood of Chicago’s South Side. The building is ideally situated just blocks from Hamilton Park as well as an abundance of public transportation options, including 75th St. bus lines. 808 W. 76th St. is comprised of six (6) commercial spaces, fifteen (15) 1B/1Ba units, and twenty-four (24) Studios. All of which have been meticulously maintained with modern kitchens and baths. Recent capital improvements to the building consist of, but are not limited to: updated electric, newer boiler (2020), and an abundance of masonry work. 808 W. 76th St. presents an investor with the opportunity to acquire a stabilized asset in Chicago's Auburn Gresham neighborhood. From day one, a new operator will capitalize on an incredibly strong and long-term tenant base with an in place cap rate of 12% and a proforma cap rate of 16.87%. Furthermore, given that some of units have not been recently updated, there is a strong value-add component by stabilizing the below market rate tenants through attrition and lease renewals.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,795,000 |
| No. of Units: | 45 |
| Opportunity Zone: | No |
| Price per unit: | $39,889 |
| 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
5457-5473 West Chicago Avenue
Chicago, Illinois
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout