7256-7258 S Merrill Ave | Chicago, IL 60649
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- LoopNet Team
7256-7258 S Merrill Ave
Chicago, IL 60649
Build-to-Rent Property For Sale
·
12 Units
INVESTMENT HIGHLIGHTS
- The property is 92% occupied, showcasing strong rental demand in the area
- Current cap rate of 9.5%, projected to increase to 10.4% on a stabilized basis
- With 1-beds averaging $1,060 & 2-beds averaging $1,233, there is signi{cant potential for rent increases offering an opportunity for value-add investo
- [5] 1-Bed/1-Bath Units & [7] 2-Bed/1-Bath Units
- Located in South Shore, close to public transportation such as the Bryn Mawr Electric Line train stop
- Property has a strong history of occupancy & collections
PROPERTY FACTS
| No. Units | 12 | Total Plot Size | 0.16 ac |
| Property Type | Build-to-Rent | Property Size | 9,000 sq ft |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Floors | 3 |
| Costar Property Class | C | Year Built | 1916 |
| Use Class | R-4, Chicago - Multi-unit residential buildings with moderate-to-high density. | ||
| No. Units | 12 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.16 ac |
| Property Size | 9,000 sq ft |
| Average Occupancy | 100% |
| No. Floors | 3 |
| Year Built | 1916 |
| Use Class | R-4, Chicago - Multi-unit residential buildings with moderate-to-high density. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 12 | - | 750 |
PROPERTY TAXES
| Parcel Number | 20-25-208-041-0000 | Improvements Assessment | £55,778 |
| Land Assessment | £8,824 | Total Assessment | £64,602 |
PROPERTY TAXES
Parcel Number
20-25-208-041-0000
Land Assessment
£8,824
Improvements Assessment
£55,778
Total Assessment
£64,602
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