Property Overview

Interra Realty is pleased to present for sale the property located at 506 E. 82nd St. The subject investment property is a 13 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

Number of Units
Thirteen (13)
Submarket
Grand Crossing