704 80Th StChicago, IL 60619

Property Details for 704 80Th St

Property size (Sq ft)

9,000 SF

Property type

Apartment buildings

Description

This meticulously maintained nine-unit apartment building, located at 704 E. 80th St in Chicago's Chatham neighborhood, presents a compelling investment opportunity. The property boasts 9,000 square feet and features nine spacious two-bedroom, one-bathroom units, each with updated kitchens and baths, hardwood floors, and separate living and dining rooms. Recent capital improvements include a modern Weil-McLain boiler, copper plumbing, a newer hot water tank (installed in 2021), and updated, code-compliant porches. The building benefits from its convenient location, just one block south of the 79th Street Corridor, providing easy access to CTA bus and train lines, I-94, and downtown Chicago. Currently achieving an 8.6% cap rate, this stabilized, cash-flowing asset offers significant rental upside potential. By increasing rents to market rates, the cap rate could exceed 13%. The property is professionally managed and offers a strong return on investment. This is a rare opportunity to acquire a well-maintained multifamily property in a desirable South Side neighborhood with immediate cash flow and substantial growth potential. The asking price is $630,000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7496

Longitude

-87.6072

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