7617 S Colfax Ave
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7617 S Colfax Ave
10 Unit Apartment Building $790,000 ($79,000/Unit) 9.70% Cap Rate Chicago, IL 60649
Investment Highlights
- All 1 BD/1 BA unit layouts.
- In-unit water tanks & In-unit washer/dryer set up.
- Parking lot located alongside property.
- Units have been extensively renovated featuring condo quality finishes with stainless steel appliances and new flooring.
- Tenant paid electric baseboard heat.
Executive Summary
Low maintenance California style 10 unit building in the South Shore neighborhood. All 1 BD/1 BA unit layouts. All units fully renovated in the last 5 yrs with stainless steel appliances, new flooring and new mechanicals. All units have dedicated water tanks and in-unit washer/dryer. Tenant paid electric and baseboard heat keeps owner expenses very low. Large parking lot located alongside property. Pro-forma 10%+ CAP rate on a turn key building.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $790,000 | Building Class | C |
| Price Per Unit | $79,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 5,936 SF |
| Cap Rate | 9.70% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $790,000 |
| Price Per Unit | $79,000 |
| Sale Type | Investment |
| Cap Rate | 9.70% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,936 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2021 |
| Opportunity Zone |
Yes |
Unit Amenities
- Washer/Dryer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $925.00 | 500 - 650 |
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Walk Score ®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 21-30-311-007-0000 | Total Assessment | $30,413 |
| Land Assessment | $7,515 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $22,898 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
21-30-311-007-0000
Land Assessment
$7,515
Improvements Assessment
$22,898
Total Assessment
$30,413
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | RT-4 |
| RT-4 |
-
Jake Fugman -
eXp Realty
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7617 S Colfax Ave
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