7701 S Carpenter St, Chicago, IL for sale

Investment Overview

Essex Realty Group, LLC is pleased to present the opportunity to acquire 7701 S Carpenter Street, a fully occupied, six-unit multifamily building located in the Auburn Gresham neighborhood of Chicago’s South Side. The property consists of six two-bedroom, one-bathroom apartments occupied by market-rate tenants. The building underwent a gut renovation in 2024–2025, including a new roof, all-copper plumbing, new 400-amp electrical service, individual furnaces and water heaters, and new vinyl windows. Additional improvements include new wooden porches and decking, substantial tuckpointing, and kitchen range hoods vented to the exterior. Tenants pay their utilities, while ownership pays water, and owned laundry machines provide supplemental income. With full occupancy and extensive recent improvements, the property offers investors immediate in-place income supported by updated building systems. At the $725,000 asking price, the provided underwriting reflects an 9.48% current cap rate, presenting an opportunity to acquire a renovated multifamily asset with established operations in an accessible South Side location.

Investment Highlights

• • Six-Unit Multifamily Building at 7701 S Carpenter Street
• • Unit Mix: 4 × 2BD/1BA Apartments and 2 x 3BD/1BA Apartments
• • 100% Occupied by Market-Rate Tenants
• • Gut Renovation Completed in 2024–2025
• • Individual Furnaces & Water Heaters; Tenant-Paid Utilities, Owner-Paid Water
• • New Roof, All-Copper Plumbing & New 400-Amp Electrical Service
• • New Vinyl Windows, Wooden Porches/Decking & Substantial Tuckpointing
• • Kitchen Range Hoods Vented to the Exterior
• • Owned Laundry Machines Provide Additional Income