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6938 S Clyde Ave

27 Unit Block of Flats £2,078,686 (£76,988/Unit) 8.48% Net Initial Yield Chicago, IL 60649

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Investment Highlights

High Curb Appeal Vintage Courtyard.
Attractive Unit Mix with 1, 2 and 3 Bedroom Layouts (Majority Are Duplex Style).
Operational Upside.

Desirable Jackson Park Highlands Location.
On Site Laundry.
Assumable Mortgage - 4.2%, ~$1,675,000 Balance, 2031 Maturity.

Executive Summary

Interra Realty has been exclusively engaged to market 6938 S. Clyde Avenue, Chicago for sale. The subject investment property is a 27 unit, courtyard style, multifamily asset in the Jackson Park Highlands submarket of South Shore.
The property boasts a large lobby, an on site management office and on site laundry for added tenant convenience. The attractive and diverse unit mix at the property ranges from large one bedroom to three bedroom apartments, twenty one of which have unique duplex floorplans. The units are heated via baseboard hot water and feature individual circuit breaker panels in each apartment. Recently, ownership has installed new common area hallway doors.
A new buyer has the opportunity to take advantage of below market rents and capitalize on strong leasing momentum in the neighborhood. With high in place occupancy, the offering presents a mix of stability and operational upside. In addition, the property features an attractive assumable mortgage with an approximate balance of ~$1,675,000, 4.3% rate and 8/31/2031 maturity. The assumption would entail a 1% fee + legal review fees.

Property Facts

Price	£2,078,686	Building Class	C
Price Per Unit	£76,988	Lot Size	0.18 AC
Sale Type	Investment	Building Size	28,240 SF
Net Initial Yield	8.48%	Average Occupancy	85%
Gross Rent Multiplier	6.2	Number of Floors	4
No. Units	27	Year Built	1928
Property Type	Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment

Price	£2,078,686
Price Per Unit	£76,988
Sale Type	Investment
Net Initial Yield	8.48%
Gross Rent Multiplier	6.2
No. Units	27
Property Type	Residential
Property Subtype	Apartment
Building Class	C
Lot Size	0.18 AC
Building Size	28,240 SF
Average Occupancy	85%
Number of Floors	4
Year Built	1928
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.