* 8.17% In-Place Cap Rate * Gross Income: $94,800 * NOI: $63,337 *6836 S. East End is an oversized six (6) unit, center entranced walk-up located in the historic Jackson Park neighborhood of Chicago's South Side. Located in one of the most sought after pockets just seven (7) miles south of Chicago's downtown, the building sits adjacent to Jackson Park Highlands, a historic landmarked district known for its collection of model, million dollars homes with picturesque architecture. Additionally, the building sits roughly two (2) blocks south of Jackson Park, along with the future Presidential Library which has recently broken ground. 6836 S. East End is comprised of six (6) meticulously maintained and recently updated units. Currently, the building consists of five (5) 3b/1ba apartments, and one (1) 2b/1ba apartment. All of which are incredibly spacious and feature an abundance of natural light. Furthermore, the units are all equipped modern kitchens with stainless steel appliances and updated bathrooms. Additionally, all of the units feature resurfaced hardwood flooring along with washer and dryers in-unit. Recent capital improvements to the building consist of, but not limited to, a newer roof, an updated and code compliant porch system, updated plumbing and electric, and individual in-unit furnaces all within the past few years. 6836 S. East End presents an investor a unique opportunity of not only acquiring an asset in one of Chicago's most desirable and appreciating neighborhoods, but also the ability to capitalize on a strong tenant base with an in place cap rate exceeding 8%. Currently, there is roughly a $300 difference in rent from older tenants to newer tenants, and solely by stabilizing the rental rates to the current market rate, there is an opportunity to achieve nearly a 9.5% cap rate. With the addition of both the Presidential Library and the newly designed Jackson Park Golf Course, the neighborhood is slated to continue to further appreciate.
