8138 South Calumet Avenue
- Long-Term Family Ownership - First Time on the Market in Decades
- Six Spacious 2-Bedroom Units
- Below-Market Rents
- Significant Value-Add Potential
- Major Capital Improvements Completed
- Quiet Chatham Location Situated On A Stable Residential Block
Property Description
Essex Realty Group, LLC is pleased to present 8138 S. Calumet Avenue, a six-unit multifamily investment opportunity located on a quiet residential block in Chicago's Chatham neighborhood. Offered for the first time in decades by a long-term owner, the property consists of six spacious two-bedroom apartments with below-market rents, providing investors with immediate value-add potential through future rent growth. The building has been exceptionally well cared for over the years and has benefited from numerous capital improvements, including upgraded electrical service, recent tuckpointing, and a new boiler, significantly reducing near-term capital expenditure requirements. Beyond the in-place rental upside, investors have multiple opportunities to further enhance value, including the potential to convert two of the oversized units into three-bedroom layouts, add a garden apartment (subject to zoning and city approval), and install on-site laundry facilities to generate additional ancillary income. Combining stable tenancy, below-market rents, strong physical ownership, and multiple value-add opportunities, 8138 S. Calumet Avenue presents a rare opportunity to acquire a well-maintained asset with meaningful upside in one of Chicago's established South Side neighborhoods.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $575,000 |
| No. of Units: | 6 |
| Opportunity Zone: | No |
| Price per unit: | $95,833 |
| 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
835 Driftwood Drive
St. Cloud, Minnesota
Brokers
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