Essex Realty Group, Inc. has been exclusively engaged to market for sale a 44-unit apartment building located in Chicago’s Austin neighborhood. The property is located at 42 N Waller Ave.
This property features a favorable unit mix of mostly [88%] two- and three-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this portfolio’s cash flow is the assumable debt. The portfolio has an assumable loan with a balance of $2,955,000 [84% LTV at list] and a below-market interest rate of 5.23%.
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.
42-52 North Waller
- Favorable Assumable Debt: Total Balance of $2.95MM [84% LTV at List], 5.23% IR
- Desirable Mix of Mostly Two and Three-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