6925 South Yale Avenue
$550,000
14
6
—
—
—
Description
Pleased to present the multifamily property and land parcel located at 6919-25 S. Yale Ave. in the vibrant Greater Grand Cross neighborhood of Chicago. This investment opportunity, located in Chicago's growing Greater Grand Crossing neighborhood, consists of a six-unit multifamily property and an additional 4,389 square foot land parcel, both offered at a competitive price of $550,000. The multifamily property comprises (2) three-bedroom, one-bathroom units and (4) two-bedroom, one-bathroom units,...Pleased to present the multifamily property and land parcel located at 6919-25 S. Yale Ave. in the vibrant Greater Grand Cross neighborhood of Chicago. This investment opportunity, located in Chicago's growing Greater Grand Crossing neighborhood, consists of a six-unit multifamily property and an additional 4,389 square foot land parcel, both offered at a competitive price of $550,000. The multifamily property comprises (2) three-bedroom, one-bathroom units and (4) two-bedroom, one-bathroom units, providing a diverse mix that appeals to families and professionals alike. The current net operating income (NOI) is $55,505, generating a robust cap rate of 10.09%. With potential value-add improvements and rent increases, the pro forma NOI is projected to reach $62,715 increasing the cap rate to a strong 11.40%. The property benefits from its location in Greater Grand Crossing, a neighborhood experiencing revitalization and increased demand for rental housing. With close proximity to public transportation, schools, parks, and local amenities, it offers tenants a desirable living environment while ensuring high occupancy and stable rental income for investors. The larger units cater to families seeking spacious accommodations, which can result in longer-term tenancy and reduced turnover. One of the standout features of this investment is the included 4,389 square foot land parcel, which provides additional flexibility and growth potential. Investors can explore various development options, such as constructing additional residential units, creating parking or green space, or pursuing commercial development, depending on zoning and market demand. This land parcel adds substantial long-term value to the investment, offering opportunities for further income generation or capital appreciation through development. The current cap rate of 10.09% offers immediate cash flow, and with strategic management, the property's income can be further enhanced. Rent increases, unit upgrades, and operational improvements can drive up the NOI, boosting profitability and return on investment. Additionally, the property's location in a growing neighborhood positions it for future appreciation as the area continues to develop. In summary, this investment opportunity offers a combination of immediate income, value-add potential, and development upside with the included land parcel. At a purchase price of $550,000, the property is attractively priced for investors seeking strong returns, stable cash flow, and long-term growth potential. With the potential to increase rents, enhance property value, and capitalize on the land's development possibilities, 6919 - 25 S. Yale Ave. presents a highly compelling opportunity in Chicago's evolving multifamily market.
- Listed by Anthony Hardy • Keller Williams ONEChicago
- Listed by Travis Montgomery • Keller Williams ONEChicago
Property Details for 6925 South Yale Avenue
Area
CHI - Greater Grand Crossing
TownshipHyde Park
ZoningMULTI
LISTING UPDATED: 12/14/2024 12:20 PM
Property Details for 6925 South Yale Avenue
Status | Active |
---|---|
MLS # | 12188754 |
Days on Market | 69 |
Taxes | $5,032 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 1895 |
Lot Size | 0.15 AC / 6,500 SF |
County | Cook County |
Building Information for 6925 South Yale Avenue
Stories3Residences6Year Built1895Building Size-Lot Size0.15 AC / 6,500 SF
Property Information for 6925 South Yale Avenue
Property History for 6925 South Yale Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 6925 South Yale Avenue
Taxable ValueLand$3,371Additions$17,628Total$20,999
Tax Record2022$4,319 ($360 / month)
Home Facts
Baths4Total Finished SqFt6,696 SqFtAbove Grade Finished SqFt6,696 SqFtStories3Lot Size5,187 SqFtStyleMulti-Family Res (5+ Units)Year Built1898CountyCOOKAPN20-21-414-006
Schools near 6925 South Yale Avenue
This home is within Chicago Public Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | PK to 8 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Harvard Elementary School PublicPK to 8 | ||
Englewood STEM High School Public9 to 12 | ||
Johnson College Prep Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.