Essex Realty Group, Inc. has been exclusively engaged to market for sale a 3-building, 41-unit portfolio located in Chicago’s Auburn Gresham neighborhood. The properties are located at 7653 S Hermitage Ave, 7800 S Paulina St, and 1235 W 81st St.
The subject property features a favorable unit mix of mostly [68%] two-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this building’s cash flow is the assumable debt. The property has an assumable loan with a balance of $3,259,155 [86% LTV at list] and a below-market interest rate of 4.21%.
This portfolio presents the rare opportunity to acquire a stabilized portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, high leverage assumption.
1235 W. 81st
7653-7655 S. Hermitage
7800 S. Paulina
- Favorable Assumable Debt: Total Balance of $3.26MM [86% LTV at List], 4.21% IR
- Desirable Mix of Mostly Two-Bedroom Units
- Stabilized, Cash-Flowing Portfolio with Strong Rental Upside
- Opportunity for Investor to Achieve Stellar Cash Returns with Assumable Below-Market Interest Rate, Higher Leverage Debt
- Close Proximity to National Retailers