Interra Realty Sells Chicago South Side Multifamily Portfolio For $7.5M
6901 S Paxton Ave Chicago, IL 60649, USA
$7,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 6, 2023
AI
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.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93