Luella Heights

Investment Overview

Real Realty is pleased to present the exclusive offering of Leulla Heights, a mixed-use investment opportunity located along the busy 75th Street retail corridor and surrounded by a strong residential neighborhood near Luella Avenue. The property consists of 13 studio apartments and four commercial storefronts. Apartments are achieving premium rents of $1,000–$1,500 per month, while commercial spaces range from $700–$1,500 per month, depending on size. Leulla Heights offers investors an attractive 10%+ cap rate and a projected 15%+ cash-on-cash return, providing strong in-place cash flow with additional upside potential. The property is supported by solid mechanicals, including a Smith cast-iron boiler installed in 2014 and two 73-gallon hot water tanks installed in 2023. This is a rare opportunity to acquire a true cash-flowing asset with value-add potential.

Investment Highlights

• Attractive basis with upside potential
• 10%+ cap rate and 15%+ projected cash return