MoHall Commercial presents this Value Add 16-Unit investment opportunity for sale in the Woodlawn Community, operating at a current 6.13% Cap Rate. Located near the University of Chicago campus, the CTA Green Line and the Obama Library construction site, this building has an incredible upside for appreciation. This building features 8 commercial units and 8 residential units. The commercial units feature long term tenants, with thriving businesses in the community. The unit mix includes (2) 3 bedroom units with 1.5 baths and (6) 2 bedroom units with 1 bath. Based on market demand, 3 bedrooms in the area are renting for $1,800 a month and 2 bedrooms $1,400 a month. With improved leasing, real estate property tax appeals and updates to the building an investor could achieve a Cap Rate of 15.9%. The Woodlawn community has seen many recent developments, which has spurred the need and demand for housing.
