5450 S. Indiana Avenue Opportu
- 27 Units
This is a group of four buildings, each containing 14 units.
The apartments are good sized and in good condition, and have lots of closet space. Each unit has air conditioning -- a feature not typically seen in the Chicago market. Another rare attribute is that the property offers parking for every unit.
One building's roof will be repaired, and the other three roofs will be replaced. Each building will have an electrical overhaul, including an increase in service and new in-unit breaker panels for each unit. Three of the water heaters and all of the boilers will be replaced. Corrective masonry work will be done where needed. Units will receive affordable, as-needed upgrades to optimize rental revenue.
24 of the property's 56 units will be targeted for CHA voucher tenants.
The buildings are situated on a quiet, residential side street immediately across from a small park in Chicago's East Chatham neighborhood. It is easy walking distance to 27-acre Avalon Park, with its gymnasium, fitness center, swimming pool, playground, track, volleyball and tennis courts.
The property is close to the busy retail corridors of 83rd Street and Cottage Grove Avenue with their complement of restaurants, shops, schools and churches. The buildings are convenient to public transportation. The property is only a few hundred feet from the 83rd St/Avalon Park Metrarail station, and bus stops are also nearby.
Our analysis indicates that the property will generate more than enough revenue to cover mortgage payments on the building as well as all of the property's operating expenses, and still return positive cash flow. This is why we consider this multi-unit building to be an excellent investment opportunity.
The property is priced at $4,000,000.
This is your opportunity to take advantage of a substantial equity position, improving cap rates, minimum cash outlay and tenants buying this high performing asset for you. And as always, the additional rehab activities by EquityBuild’s contractor teams are fully warrantied upon completion.
Call Now! (877) 978-1869 to find out more.
EquityBuild is a client advocate in a real estate world where we build life-long relationships to create turn-key solutions that consistently deliver double-digit returns. Real estate investment opportunities are carefully selected based on EquityBuild’s proprietary econometric model that identifies properties with strong upside and minimal risk. To learn more about EquityBuild and how you can invest directly in real estate with expert guidance and no landlord hassles please call (877) 978-1869.