Property Overview

Interra Realty has been exclusively engaged to market for sale 7952 S. Dobson, a seven (7) unit, condo quality apartment building in Chicago's Chatham / Avalon Park neighborhood. The building provides an investor to acquire a stabilized, cash flowing property at 10% Cap Rate or above, with an attractive Cash on Cash return at 17% or higher.

All units were originally rehabbed as Condos, and are 1BR/1BA layouts. The current rents range from $575 to $850 per unit. A new owner has the opportunity to dramatically increase revenue by leveling off rents to a market level.

Highlights

  • Seven large 1BR/1BA Units Originally Rehabbed as Condos
  • All Units Include Individual HVAC (Tenant Paid Heat)
  • 7 Rear Parking Spaces
  • Average Rent Below Market at $725/mo
  • Near 10% Cap Rate and 17%+ Cash on Cash Return
  • Zero Deferred Maintenance

Key Details

Asking Price
$395,000
Number of Units
7
Building Size
7,500 SF
Year Built
1928
Cap Rate
9.7