653 E 90th Place

Chicago, Illinois 60619

-9.05% In Place Cap Rate -Gross Income: $129540 -NOI: $85,929 653 E. 90th Pl is a meticulously maintained and professionally managed ten (10) unit property, located in the desirable Burnside community of Chicago's South Side. Nestled amongst an abundance of single family homes, the building sits on an incredibly quiet tree lined street just one (1) block away from Tuley Park, a community recreational center featuring a gym, auditorium, playgrounds, basketball courts, as well at ten lighted tennis courts. The building also sits just one block west of Cottage Grove's commercial corridor featuring an assortment of retail and grocery options. 653 E. 90th Pl has an incredibly desirable unit mix comprised solely of two and three bedroom apartment units. Currently, the building consists of three (3) 3b/1ba apartments, and seven (7) 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 newer cabinetry and appliances and updated bathrooms. Additionally, all of the units boast resurfaced hardwood flooring throughout. Recent capital improvements to the building consist of, but not limited to, a new roof (2021) along with new gutters, an updated and code compliant porch system, updated plumbing and electric, and individual in-unit furnaces. 653 E. 90th Pl presents an investor with the unique opportunity to acquire a stabilized, cash flowing asset. From day one, an investor will realize an in place cap rate of 9.1% and a cash return of roughly 20%. Furthermore, by increasing rents to levels already being achieved in the building and surrounding area, an investor has the ability to achieve a cap rate over 10% and a cash return of nearly 25%.