Updated Dec 4, 2024
Interra Realty Sells Oak Lawn Multifamily Portfolio For $3.15M
10310 Mayfield Avenue, 10326 Mayfield Avenue & 10310 Mansfield Avenue
$3,150,000
Units
24
Asset Type
MultiFamily
Closing
Jun 13, 2024
About this deal
AI
The three-building, 24-unit multifamily portfolio in Oak Lawn, Illinois, located on 10310-10326 Mayfield Avenue & 10310 Mansfield Avenue, was sold for $3.15 million. The properties were well-maintained and partially renovated, with 96% occupancy at the time of sale, reflecting strong investor interest due to increased renter demand.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,150,000
- Units: 24
- Price Per Unit: $131,250
- Market: Oak Lawn
- Broker: Michael Duckler - Interra Realty
Interra Realty brokered the sale, achieving one of the highest per-unit prices in the area over the past decade. The strong investor interest was driven by the properties' high occupancy rate and desirable location in Oak Lawn.
On the Map
$3,150,000
MultiFamily
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Oak Lawn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93