Interra Realty has been exclusively engaged to market 7556-58 S. Eberhart Avenue, Chicago, for sale. The subject investment property is an 8-unit, walk-up style, multifamily asset in the historic Grand Crossing neighborhood.
The property offers an attractive unit mix of two and three-bedroom apartments. The property features new electrical service, individual boilers supplying heat to each unit (tenant paid), two newer hot water storage tanks, copper plumbing and a newer tear-off roof. Six of eight units feature market leading fi nishes including granite countertops, newer cabinetry, newer bathroom tile surrounds and vanities in addition to updated flooring.
A new buyer may elect to continue with renovation of the other two units in order to achieve higher rental rates in line with other updated units at the property. A new investor has the opportunity to acquire a fully occupied, recently improved property with an in place of cap rate of over 10%in addition to a healthy cash-on-cash return
- Desirable Unit Mix: (5) 2 BD/1 BA & (3) 3 BD/1 BA
- Individual Tenant Paid Heat – Baseboard Hot Water
- Two (2) 75 Gallon Hot Water Storage Tanks (2017)
- 6/8 Units Feature Updated Kitchen (Granite Counter Tops, NewerCabinetry, Newer Appliances, Dishwashers) & Bathrooms (NewerVanities and Tile Surrounds)