List Price $320,000 Under Contract
eight apartments · 7,060 SF
The property is located less than 10 miles south of the loop at the corner of 66th and Hermitage. It is about 2 miles west of I-90 expressway within walking distance of the CTA red and green lines. The building consists of eight two-bedroom/one-bathroom units, all measuring 905 SF. Several units have been recently updated with new kitchens, bathrooms, and hardwood floors.
This is an excellent investment opportunity for an experienced owner to expand their southside portfolio, or for a newer investor to buy into a smaller deal with exceptional returns. An investor can acquire this property at a reasonable price, raise rents slightly up to market, and experience 27.46% cash on cash returns in year one. The asset boasts a 11.70% Cap from day one and requires little to no work.
Recently Renovated Interiors
Excellent Cash Flow
11.70% Cap Rate