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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.

Property Facts

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 - -
Walk Score ®
Walker's Paradise (96)
Bike Score ®
Biker's Paradise (95)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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
  • Listing ID: 32748347

  • Date on Market: 8/9/2024

  • Last Updated:

  • Address: 5437-5439 S Harper Ave, Chicago, IL 60615

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