26
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$1,125,000
Est. payment /mo
6,969 Sqft Lot
Active
6729 S Chappel AVE Chicago, IL 60649
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UPDATED:
08/17/2024 08:47 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12103693
Maintenance Fees $763
Year Built 1916
Annual Tax Amount $8,935
Tax Year 2022
Lot Size 6,969 Sqft
Lot Dimensions 56 X 125
Property Description
Welcome to 6729 - 6731 South Chappel Avenue, an exceptional investment opportunity in the heart of Chicago, IL. This impressive 8-unit building boasts a total of 22 bedrooms and 8 bathrooms across a generous single PIN 7,056 square feet lot. The property offers a lucrative current cap rate of over 7% and is fully leased with reliable, all performing tenants, historically maintaining a low vacancy rate. This property is a savvy investor's dream, featuring 6 three-bedroom, one-bathroom units, and 2 two-bedroom, one-bathroom units. The building is equipped with essential amenities including 2 coin operated washers and dryers, and a hard-wired security system for added peace of mind. With 8 new parking spots, tenants enjoy the convenience of ample parking. Strategically located in an opportunity zone, this property benefits from low taxes. Its close proximity to public transportation, particularly the CTA Jeffery Jump route, enhances its appeal to tenants seeking convenience. Additionally, the building's low expenses are attributed to tenants covering their own heat, electric, and gas, resulting in a desirable financial profile for investors. Situated just 1 mile from Jackson Park and the future Obama Presidential Library, this property holds promise for future appreciation. The pro forma DSCR of 1.83 and a cash-on-cash return of 18% further underscore the financial attractiveness of this investment. Moreover, with below-market rents, there's immediate potential to realize a cap rate of over 10% and a GRM of 7, presenting an enticing investment opportunity. For discerning investors seeking a prime income-generating asset, the offering memorandum is available upon request. Don't miss out on this rare chance to secure a solid investment in a thriving location that is driving the future of Chicago's South Side Multi-Family Investments.
Location
State IL
County Cook
Area Chi - South Shore
Zoning MULTI
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Sanitary Sewer, Water-Municipal
Roof Type Reflective Coating
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Phillip Dixon • Compass
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