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Interra Realty Sells Chicago South Side Multifamily Portfolio For $7.5M
SOLD
$7,500,000
+ 1
Illinois
See Similar DealsMultiFamily
Sold 07/06/2023
SOLD
Interra Realty Sells Chicago South Side Multifamily Portfolio For $7.5M
6901 S Paxton Ave Chicago, IL 60649, USA
See Similar DealsMultiFamily
Sold 07/06/2023
+ 1
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
A two-building multifamily portfolio in Chicago's South Side has been sold for $7.5 million by Interra Realty. The portfolio consists of 79 units and was 94% occupied at the time of the sale. The property, located at 6901 South Paxton Avenue, offers a total price per unit of $94,937.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,500,000
- Units: 79
- Price per Unit (PPU): $94,937
- Seller: Mendy Raskin & Jon Kranzler
- Brokers: Brad Feldman & Lucas Fryman - Interra Realty
Brad Feldman and Lucas Fryman of Interra Realty represented the seller, Mendy Raskin and Jon Kranzler, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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