Property Overview
Interra Realty has been exclusively engaged to market for sale 7337 S. Ridgeland Ave. The subject property is a 25-unit corner walk-up apartment building located in Chicago’s South Shore neighborhood. The building contains a combination of well appointed studio, one bedroom and two bedroom apartments, some of which have received new in unit improvements.
Other recent improvements include a new roof layer and masonry work. The building has been meticulously maintained and is professionally managed, presenting a new owner with the ability to acquire a stabilized and well occupied asset. In addition, there is a value add opportunity via continued unit modernization in order to achieve proven higher rent levels.
Highlights
- Attractive and Diverse Unit Mix
- New Roof Layer 5 years Ago
- Recent Tuckpointing and Masonry Work
- Upgraded Apartments with Newer Kitchens and Baths
- Newer Circulation Pump and Newer Hot Water Tank
- 10.2% Cash on Cash Return with Upside
Key Details
Sale Price
$2,300,000
Number of Units
Twenty-Five (25)
Submarket
South Shore