6557 S Minerva - 10-Unit Apartment Building in East Woodlawn
$1,500,000
6557 S Minerva Ave, Chicago, IL 60637
10.04
Cap Rate
150,606.69
NOI
Details:
Highlights:
- 5 3-bed/2-bath, 4 2-bed/2-bath, 1 2-bed/1-bath
- 2004 gut-renovation including electric, plumbing, in-unit laundry, and individual gas-forced HVAC
- Multi-level, condo-quality living
- Long-term, East Woodlawn investment location
Description:
We are pleased to present for sale 6557 S Minerva, a three-story 10-unit apartment building located in the East Woodlawn neighborhood of Chicago. The property is located ~six blocks west of the Jackson Park Golf Course and ~5 blocks south of The University of Chicago, in immediate proximity to the future Obama Presidential Library.
The property experienced a complete gut rehab in 2004 reducing unit count from 12 to 10 for six duplex and four simplex condo-quality residences. The apartment makeup is: five (5) 3 Bed/2 Bath, four (4) 2 Bed/2 Bath, and one (1) 2 Bed/1 Bath units. All units feature hardwood flooring and tile throughout and modern kitchen features: granite countertops, modern cabinets, updated appliances, common building hot water, and dishwashers. The property also features ~four pad parking spaces, copper plumbing, in-unit updated electric boxes, and in-unit laundry facilities
From an economic perspective, the property features residents with below-market rental rates that allows a future operator to benefit from the opportunity to bring leases to market rental rates in a location that benefits from long-term economic improvement investment stability.
Northeast corner of Minerva and 66th/Marquette
Documents:
| Title | ||
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| 6557_S_Minerva_-_Sales_Flyer.pdf |
Location
Gallery
