7257 South Princeton AvenueChicago, IL 60621Price: $995,000

  • Price: $995,000
  • 103 Days on Market
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Federal 30-year interest rate: 6.77% last updated on Feb 15, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 1921Year Built

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A charming twelve-unit walk-up building situated in the Grand Crossing neighborhood on Chicago's South Side. Nestled on a serene, tree-lined street, this property offers tenants the convenience of quick and easy access to downtown Chicago, with the I-94 Express just blocks away. 7257 S. Princeton boasts an exceptional unit mix, comprising solely of two and three-bedroom apartments. With six (6) 2b/1ba units and six (6) 3b/1ba units, the building provides spacious living spaces that have been meticulously maintained and protected by security cameras. The beautiful hardwood flooring is throughout each unit with gorgeous balconies, that provide residents with a private outdoor oasis where they can unwind, and enjoy the fresh air. Noteworthy recent improvements have been made to the property, including a newer boiler, updated hot water storage tanks, modernized copper plumbing, upgraded windows, and newly constructed porches that meet code requirements. These enhancements ensure that 7257 S. Princeton stands as a stable and robust investment, generating consistent cash flow. From day one, a new owner can expect a cap rate of 10.1% with the possibility to use an existing management company Taty Management. However, the true potential lies in the opportunity to increase rental income, since rent is below the market. By doing so, an investor can attain a remarkable cap rate exceeding 12.6%, along with an exceptional cash-on-cash yield. 7257 S. Princeton represents a rare chance to acquire a well-established income-generating asset in the Grand Crossing neighborhood of Chicago. With its strong tenant base and attractive financial prospects, this property offers a solid investment opportunity.

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Listed by Angela Mana of Barr Agency,Inc

Based on information submitted to MRED  as of February 21, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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