9.4% In-Place Cap Rate - Gross Income (w/ 5% Vacancy): $86,400 - NOI: $51,719 The CARE Group is pleased to exclusively offer for purchase the sale of 6949 S Green, incredibly spacious six (6) unit walk-up building located in the Greater Grand Crossing neighborhood of Chicago's South Side. The building sits on an quiet, tree-lined street nestled amongst an abundance of single family homes and brick duplexes and just a couple blocks west of the neighborhood's Hamilton Park - one of Chicago's premier parks featuring a swimming pool, baseball diamonds, basketball and tennis courts, and more. Additionally, the building sits in a federally recognized opportunity zone. 6949 S Green has an incredibly desirable unit mix comprised solely of spacious three bedroom units. All boast an abundance of natural light, and feature hardwood flooring throughout. 6949 S Green presents an investor a unique opportunity of acquiring a positive, cash flowing asset with an in place cap rate of nearly 10% along with incredibly minimal expenses. Furthermore, at the current market levels, the asset yields an immediate cash return approaching 20%. Additionally, the deal also presents an incredible value add component. Currently, identical units in the area are renting from $1,200 to $1,350. Solely by stabilizing the rent roll to consistent levels throughout, there is an opportunity to significantly increase yield.
Property Map
Please use the print button to include maps when printing.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Urban Real Estate are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
