8033 S Drexel Avenue, Chicago, IL 60619

The property located at 8031-35 S. Drexel Ave. in the Chatham neighborhood of Chicago, Illinois, represents a significant investment opportunity within the real estate market. This 12-unit residential building, fully renovated in 2014, offers a balanced mix of one and two-bedroom units, all benefiting from a subsidy arrangement with the Chicago Housing Authority (CHA). The property is under a 30-year contract with CHA, ensuring stable and secure revenue until at least 2044.  Renovation: Full gut renovation in 2014  Units: 12 total  6 one-bedroom/one-bathroom units  6 two-bedroom/one-bathroom units  Subsidy: All rents subsidized by CHA  Contract: 30-year agreement with CHA, initial term until 2044    Financial Overview  Purchase Price: $892,000  Cap Rate: 8.75%  Net Operating Income (NOI): $78,067  Gross Rent Multiplier (GRM): 5.79    Investment Highlights  Stable Income Stream: The CHA subsidy and long-term contract offer a secure and predictable income, minimizing vacancy risks and financial fluctuations.  Favorable Financial Metrics: With a cap rate of 8.75% and a GRM of 5.79, the property presents a compelling investment opportunity, indicating strong income potential relative to the purchase price.    8031-35 S. Drexel Ave. offers a unique and lucrative investment opportunity in the Chatham neighborhood of Chicago. With all rents subsidized by CHA, a favorable unit mix, and solid financial indicators, this property is well-positioned for investors seeking stable returns and long-term capital growth. The recent renovation and ongoing CHA contract further underscore the attractiveness of this investment, promising a blend of immediate income generation and future value appreciation.