5437-5439 S Harper Ave
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5437-5439 S Harper Ave
6 Unit Apartment Building $1,545,000 ($257,500/Unit) 6.90% Cap Rate Chicago, IL 60615
Investment Highlights
- Irreplaceable Hyde Park Location (±5 Minute to University of Chicago Campus)
- 2023 Renovation of a Classic Center Entrance Apartment Building
- Meticulously Maintained by Professional Management
- 9.62 GRM on Current Rent with Ability to Achieve 8.58 GRM in Existing Condition
- Excellent Unit Mix Featuring Separate HVAC, Electric, Updated Finishes & Numerous Capital Improvements
- OM Available Upon Request
Executive Summary
Introducing 5437-5439 S. Harper, a rarely available center entrance six (6) unit apartment building located in a prime Hyde Park location. This irreplaceable address is next door to Trader Joe’s, walking distance to 53rd shopping, the University of Chicago shuttle at Lake Park & 54th Street, Metra and 90/94 Expressway for easy commuting.
Renovated in 2022-2023, the property features all 2-bed/2-bath apartments showcasing meticulously designed floor plans. Updates include new kitchens, stainless-steel appliances, dishwashers, in-unit laundry, refinished hardwood flooring, and modern bathroom finishes. In addition to its cosmetic finishes, the building also has new individual HVAC, new plumbing and electric service, rebuilt porches and a well-maintained roof.
5437-39 S. Harper is an incredible investment opportunity to acquire a renovated turn-key property in one of Chicago’s most desirable neighborhoods. With exceptional cash-flow and minimal expenses this cash flowing asset generates strong income from day one. In an A+ Hyde Park location, nestled by the University of Chicago's campus, new ownership has the rare opportunity to acquire a stabilized investment providing a solid cash-on-cash return for many years to come.
Renovated in 2022-2023, the property features all 2-bed/2-bath apartments showcasing meticulously designed floor plans. Updates include new kitchens, stainless-steel appliances, dishwashers, in-unit laundry, refinished hardwood flooring, and modern bathroom finishes. In addition to its cosmetic finishes, the building also has new individual HVAC, new plumbing and electric service, rebuilt porches and a well-maintained roof.
5437-39 S. Harper is an incredible investment opportunity to acquire a renovated turn-key property in one of Chicago’s most desirable neighborhoods. With exceptional cash-flow and minimal expenses this cash flowing asset generates strong income from day one. In an A+ Hyde Park location, nestled by the University of Chicago's campus, new ownership has the rare opportunity to acquire a stabilized investment providing a solid cash-on-cash return for many years to come.
Property Facts
Price | $1,545,000 | Property Subtype | Apartment |
Price Per Unit | $257,500 | Apartment Style | Low Rise |
Sale Type | Investment | Building Class | C |
Cap Rate | 6.90% | Lot Size | 0.08 AC |
Gross Rent Multiplier | 9.62 | Building Size | 5,490 SF |
No. Units | 6 | No. Stories | 3 |
Property Type | Multifamily | Year Built | 1900 |
Price | $1,545,000 |
Price Per Unit | $257,500 |
Sale Type | Investment |
Cap Rate | 6.90% |
Gross Rent Multiplier | 9.62 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.08 AC |
Building Size | 5,490 SF |
No. Stories | 3 |
Year Built | 1900 |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+2 | 6 | - | - |
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Walk Score ®
Walker's Paradise (96)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
Parcel Number | 20-11-426-008-0000 | Improvements Assessment | $51,143 |
Land Assessment | $22,202 | Total Assessment | $73,345 |
PROPERTY TAXES
Parcel Number
20-11-426-008-0000
Land Assessment
$22,202
Improvements Assessment
$51,143
Total Assessment
$73,345
zoning
Zoning Code | RM-5 |
RM-5 |
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5437-5439 S Harper Ave
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