Property Overview

Interra Realty is pleased to present for sale the property located at 506 E. 82nd St. The subject investment property is an 12 unit, walkup style, multifamily asset in the historic Grand Crossing neighborhood. The property is comprised entirely of one bedroom apartments.

The property has been pridefully maintained by current ownership and has attractive curb appeal. Features include newer windows, rear porches, mansonry and a newer steam boiler

A new investor has the opportunity to acquire a fully occupied property with an further upside remaining in the rent roll. Through capturing market rents, investors have the potential to achieve a 10%+ cap rate.

Highlights

  • Attractive entry basis
  • Substantial upside remaining in rent roll; Average In
    Place Rent of $870
  • Value add potential through cosmetic rehab
  • Newer Windows, Porches, Boiler

Key Details

Sale Price
$780,000
Number of Units
Twelve (12)
Submarket
Grand Crossing