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6938 S Clyde Ave

27 Unit Apartment Building $2,650,000 ($98,148/Unit) 8.48% Cap Rate Chicago, IL 60649

Investment Highlights

  • High Curb Appeal Vintage Courtyard.
  • Attractive Unit Mix with 1, 2 and 3 Bedroom Layouts (Majority Are Duplex Style).
  • Operational Upside.
  • Desirable Jackson Park Highlands Location.
  • On Site Laundry.
  • Assumable Mortgage - 4.2%, ~$1,675,000 Balance, 2031 Maturity.

Executive Summary

Interra Realty has been exclusively engaged to market 6938 S. Clyde Avenue, Chicago for sale. The subject investment property is a 27 unit, courtyard style, multifamily asset in the Jackson Park Highlands submarket of South Shore.
The property boasts a large lobby, an on site management office and on site laundry for added tenant convenience. The attractive and diverse unit mix at the property ranges from large one bedroom to three bedroom apartments, twenty one of which have unique duplex floorplans. The units are heated via baseboard hot water and feature individual circuit breaker panels in each apartment. Recently, ownership has installed new common area hallway doors.
A new buyer has the opportunity to take advantage of below market rents and capitalize on strong leasing momentum in the neighborhood. With high in place occupancy, the offering presents a mix of stability and operational upside. In addition, the property features an attractive assumable mortgage with an approximate balance of ~$1,675,000, 4.3% rate and 8/31/2031 maturity. The assumption would entail a 1% fee + legal review fees.

Property Facts

Price $2,650,000
Price Per Unit $98,148
Sale Type Investment
Cap Rate 8.48%
Gross Rent Multiplier 6.2
No. Units 27
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.18 AC
Building Size 28,240 SF
Average Occupancy 85%
No. Stories 4
Year Built 1928
Opportunity Zone Yes

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 10 - 650
2+1 10 - 900
Walk Score ®
Very Walkable (75)
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
20-24-415-016-0000
Land Assessment
$11,625
Improvements Assessment
$129,175
Total Assessment
$140,800
  • Listing ID: 32734003

  • Date on Market: 8/8/2024

  • Last Updated:

  • Address: 6938 S Clyde Ave, Chicago, IL 60649

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