Chatham and Grand Crossing Portfolio

Essex Realty Group, Inc. has been exclusively engaged to market for sale a 3-building, 86-unit multifamily portfolio located in Chicago's Chatham and Greater Grand Crossing neighborhoods. The properties are located at 7914 S Wabash, 7431 S Eggleston, and 7004 S Indiana.
This portfolio features a favorable mix of almost entirely [93%] two-bedroom and three-bedroom units with strong in-place rents, averaging $1,253 for 1 Beds, $1,357 for 2 Beds, $1,611 for 3 Beds. Properties were rehabbed in 2018 and have been meticulously maintained by a professional operator, there is no major work needed with this portfolio. Additionally, there is a strong history of collections as all tenants are subsidy holders.
Further contributing to this portfolio's cash flow is the assumable debt. There is an assumable loan with a balance of $5,891,087 [77% LTV at list], a below-market interest rate of 4.21%, and 5 years of term remaining.
This offering presents the rare opportunity to acquire a stabilized, exceptionally well maintained portfolio with a desirable unit mix and achieve stellar 22% cash-on-cash and 9.5% cap returns on day one with a low rate, high leverage assumption.