7900 Drexel Ave, Chicago, IL 60619
13 Unit Apartment Building | $839,000 ($64,538/Unit) | 11.68% Cap Rate | Chicago, IL 60619
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $839,000
- Property Type
-
Multifamily
- Square Feet
- 11,308 SF
Listing Contacts
Tony Hardy
Verified Profile
Travis Montgomery
Verified Profile
Tracii Randoph
Verified Profile
Kelly Rich
Verified Profile
- Property Info
Property Overview
Property Highlights
Type: Mixed-Use (Retail and Residential)
Location: 7900 S Drexel Ave, Chicago, IL 60619
List Price: $839,000
Cap Rate: 11.68%
Property Description
This newly remodeled mixed-use building presents a unique investment opportunity with 14 income-producing units, comprising 6 residential apartments and 8 retail/office storefronts.
Residential Units:
Total: 6 units
Configuration: Five 1 bed/1 bath units and one 2 bed/1 bath unit
Retail/Office Storefronts:
Total: 8 units
Features: Gas, forced heat, and central air
Location & Accessibility
The property is conveniently located close to:
Metra 79th St Station
Interstate highway
Investment Potential
Opportunity Zone:
Situated in an Opportunity Zone, this property qualifies for various city grants, providing additional financial incentives for investors.
Community and Amenities:
With its prime location, ample amenities, and a strong sense of community, this property is poised for consistent occupancy and income generation.
Building Condition:
The building violations with the City of Chicago have been mostly cleared, with the exception of four violations that the owner is actively working on resolving.
7900 S Drexel Ave is a strategically located, newly remodeled mixed-use asset offering significant income potential and long-term growth. Its residential and commercial units, combined with the benefits of being in an Opportunity Zone, make it an excellent investment for those seeking robust returns in the Chicago real estate market. Don't miss the chance to capitalize on this prime investment opportunity.
Type: Mixed-Use (Retail and Residential)
Location: 7900 S Drexel Ave, Chicago, IL 60619
List Price: $839,000
Cap Rate: 11.68%
Property Description
This newly remodeled mixed-use building presents a unique investment opportunity with 14 income-producing units, comprising 6 residential apartments and 8 retail/office storefronts.
Residential Units:
Total: 6 units
Configuration: Five 1 bed/1 bath units and one 2 bed/1 bath unit
Retail/Office Storefronts:
Total: 8 units
Features: Gas, forced heat, and central air
Location & Accessibility
The property is conveniently located close to:
Metra 79th St Station
Interstate highway
Investment Potential
Opportunity Zone:
Situated in an Opportunity Zone, this property qualifies for various city grants, providing additional financial incentives for investors.
Community and Amenities:
With its prime location, ample amenities, and a strong sense of community, this property is poised for consistent occupancy and income generation.
Building Condition:
The building violations with the City of Chicago have been mostly cleared, with the exception of four violations that the owner is actively working on resolving.
7900 S Drexel Ave is a strategically located, newly remodeled mixed-use asset offering significant income potential and long-term growth. Its residential and commercial units, combined with the benefits of being in an Opportunity Zone, make it an excellent investment for those seeking robust returns in the Chicago real estate market. Don't miss the chance to capitalize on this prime investment opportunity.
Property Details
- Class
- B
- Year Built/Renovated
- 1940/2022
- Stories
- 2
- Lot Size (sq. ft)
- 7,841 SF
- Units
- 13
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