6700 S Clyde Ave 13 Unit Block of Flats £1,620,627 (£124,664/Unit) 8% Net Initial Yield Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- Excellent Unit Mix of One, Two & Three Bedroom Units (Many with Primary En-Suites)
- Walking distance from the Obama Presidential Library
- Across from Jackson Park Gold Course & Harbor along Lake Michigan, Lakefront Trails & Beaches
- Very Attractive Assumable Fannie Mae Debt (See OM for details)
EXECUTIVE SUMMARY
Step into a prime investment opportunity in the heart of South Shore! This beautifully maintained 13-unit multifamily building offers both immediate income potential and long-term appreciation. Each spacious unit features generously sized bedrooms, updated kitchens, and modern finishes while maintaining the building's original charm. Perfect for investors who are in a 1031-exchange, move-up investor, out of state buyer, looking for a property that offers flexibility and value in an appreciating neighborhood. Property Highlights include: 1.Thirteen (13) fully occupied units generating consistent rental income. 2. Updated mechanical and well-maintained common areas. 3. Potential for increased cash flow through strategic upgrades. 4. Ideal location near Jackson Park, the upcoming Obama Presidential Center, and Lake Michigan. With close proximity to public transportation, local shopping, dining, and cultural landmarks, this property is situated in a rapidly developing corridor. Don't miss your chance to secure a solid investment in one of Chicago's most promising neighborhoods. Offering Memorandum available upon request!
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | £1,620,627 |
| Price Per Unit | £124,664 |
| Sale Type | Investment |
| Net Initial Yield | 8% |
| Gross Rent Multiplier | 8.58 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 14,600 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1934/2015 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 - Residential Multi-Unit |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Granite Worktops
- Wooden Floors
- High Speed Internet Access
- Fridge
- Stainless Steel Appliances
- Bath/Shower
- Island Kitchen
- Linen Cupboard
SITE AMENITIES
- Fenced Plot
- Gated
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 1 | £923.38 | 800 |
| 2+1 | 3 | £1,086 | 1,100 |
| 2+2 | 6 | £1,280 | 1,150 |
| 3+2 | 3 | £1,442 | 1,200 |
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 20-24-401-035-0000 | Total Assessment | £85,629 (2024) |
| Land Assessment | £8,092 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £77,538 (2024) | Tax Year | 2023 Payable 2023 |
