1511 E 71st Place Chicago, IL 60619

- 9.01% In Place Cap Rate - Gross Income: $100,476 - NOI:$69,381 -1511 E. 71st Pl is a meticulously maintained and professionally managed, center-entrance six (6) unit apartment building located in the highly desirable South Shore neighborhood of Chicago's South Side. 1511 E. 71st Pl has an incredibly desirable unit mix consisting of five (5) 3Bd/2Ba units and one (1) 3Bd/1Ba unit. All of which are incredibly spacious and feature hardwood flooring throughout with individual furnaces. Additionally, all of the units have been recently renovated and feature updated kitchens and baths. Recent capital improvements to the building consist of, but not limited to, a complete tear off roof (2017), an updated and code compliant porch system, newer windows, masonry and tuckpointing, along with interior and common area updates. 1511 E. 71st Pl presents an investor with the unique opportunity to acquire a stabilized, cash flowing asset. From day one, an investor will realize an in place cap rate over 9% and a cash return of roughly 20%. Furthermore, by increasing rents to levels already being achieved in the building and surrounding area, an investor has the ability to achieve a cap rate of 9.69% and a cash return of nearly 22.6%.