$891,000
Calculate Payment
3064 E 79th Street Chicago, IL 60649
General Commercial
Residence
Beds
Baths
...
Bed/Bath
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
3064 E. 79th is an incredibly spacious (9) unit property located in Chicago's South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation..., the asset is nearby to Chicago's Lake Shore Drive which provides tenants easy access to Chicago's downtown in roughly fifteen minutes. 3064 E. 79th is currently comprised of nine (9) Oversized 2b/1ba units. The units all feature hardwood flooring throughout and updated tiling in the kitchen. Furthermore, additional improvements to the building consist of but are not limited to, updated electric, newer windows, an updated and newly coated roof, separate and individual HVAC furnaces, and a paved parking lot in the rear. Given the location and size of the units, there is an incredibly large demand for apartments such as these. 3064 E. 79th presents an investor with a unique opportunity to acquire a strong, positive cash flowing building with an in-place cap rate of over 8.2%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could increase the cap rate to just under 10.00%.
Continue reading
MLS#
11986480
Property Type
General Commercial
Year Built
1923
Receive an email as soon as the price changes
Receive an email
as soon as the price changesGet Price Alerts
Don't miss your chance. Receive an email as soon as the price changes.
Get email alerts when
a home price changes
Sign up
Enter your work address to view actual drive times with traffic for this property.
Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
How much home can I afford?
Kickstart your home search journey with our online Pre-Approval.
Nearby Homes For Sale
Just Listed
And
Homes Available
In
See How Much You Could Save
Thinking about buying or selling? Talk to one of our Mortgage Professionals today to see how much you could save on your next home. Call us at 833-981-2030.