704 E 80th St Chicago, IL 60619
9 unit building in Chicago's historic Chatham neighborhood
Property size:
9,000 SFLot size:
0.21 Acres- Added:
- Jan 17, 2025
- Days on Market:
- 441
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 704 E 80th St
General Information
- Standard status
- Active
- Property type
- Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
- Size
- 9,000 SF
- Elevators
- N/A
- Lot size
- 0.21 Acres
Building Details
- Buildings
- 1
- Stories
- 3
- Units
- 9
Listing agent Noah (630) 209-3622
Listing office (630) 209-3622
Listing date Jan 17, 2025
Overview
Chicago Chatham Neighborhood Multifamily Building
Located at 704 E. 80th St in Chicago's Chatham neighborhood, this nine-unit multifamily building is situated one block south of the 79th Street Corridor. The property provides access to public transportation (CTA bus and train), I-94, and downtown Chicago. The building consists of two-bedroom, one-bathroom units, each featuring updated kitchens and bathrooms with hardwood floors. Recent capital improvements include a Weil-McLain boiler, updated copper plumbing, a hot water tank installed in 2021, and code-compliant porches. This investment property offers an opportunity to acquire a stabilized, cash-flowing asset. The current in-place cap rate exceeds 8.6%, with a cash-on-cash return of 11.7%. Further upside potential exists through rental increases to market rates, potentially achieving a cap rate over 13% and a cash-on-cash return of nearly 30%. The building sits on a 0.2066 acre lot and has a total building size of 9,000 square feet. The property is professionally managed.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6051
- Latitude
- 41.744
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 9 unit building in Chicago's historic Chatham neighborhood
Where is this multifamily property located?
The property is located at 704 E 80th St Chicago, IL.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 8.6% In Place Cap Rate; Nine (9) Spacious 2Bd/1Ba Units; Separate Living & Dining Rooms
