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$ 2,497,000

Est. payment -/mo

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951 E 86th ST Chicago, IL 60619

12,744 SqFt

UPDATED:

10/19/2024 05:06 AM

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 12,744 sqft

Price per Sqft $195

MLS Listing ID 12096532

Maintenance Fees $6,755

Year Built 1965

Annual Tax Amount $10,330

Tax Year 2022

Lot Size 0.350 Acres

Lot Dimensions TRIANGULAR 76.17FT FRONTAGE X 397.9 ALLEY X 404.8 REAR

Property Description

Exceptional opportunity 15 unit, 8 garage, fully occupied (one unit under renov.) | $201k NOI, 8% CAP | Stable tenants, with multi-year leases remaining (18.1 mo avg)--some to 2028, provide value-add NPV boost | $24k monthly cash flow from eight 2bed, seven 1bed, eight single garages, coin laundry | 7 space value-add fee parking | 5.3 yr avg tenant-tenure, desirable units, EZ transportation, apartment wait list | Inflation hedge with annual subsidized rent increases | 20yr same owner | East Chatham, 72 "Good" mobility, quiet, tree-lined, adjacent Metra (87th St/Woodruff), 1 mi to I-94, 1 mi to CTA Red Line | Zero-deferred maintenance: high-efficiency boiler (2024), garage roof (2024), security cameras/system (2023), tuckpointing (2021), coin laundry (2021), garage doors (2021), crawlspace drain tile (2021), 50yr HD roof (2018)--warranty through 2028, low-E aluminum windows, R-40 attic insulation

Location

State IL

County Cook

Area Chi - Chatham

Zoning MULTI

Interior

Cooling Wall Sleeve

Fireplace N

Exterior

Utilities Available Water-Municipal, Cable Available

Roof Type Composition

Building

Dwelling Type Multi Family 5+

Level or Stories 3

Structure Type Brick,Concrete

Listed by James Pappas • James Pappas

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