July 29, 2019

Apartment Investment Advisors (AIA) is marketing a four-building, 208-unit mid-rise portfolio in South Shore. The asking price is $16,200,000, or about $77,000 per unit.

The four neighboring properties along Jeffery Avenue and 71st Street include 7144 S. Jeffery Ave., 7130 S. Jeffery Ave., 7147 S. Jeffery Ave. and 1962 E. 71st Pl. There’s also a 34-space parking lot.

Built in 1928, the portfolio has undergone $2 million in recent capital improvements by current ownership. It’s adjacent to Jeffery Plaza, which local grocery chain Shop & Save acquired this past February with plans to open in the former Dominick’s space.

AIA and other multifamily brokerages have been busy in South Shore in recent months. At the beginning of the year, for example, AIA’s Jack Cassin and Mike Lindblad brokered the $2.8-million sale of a 40-unit apartment property at 6748 S. Crandon in the neighborhood.

Connect Texas Multifamily will take place August 15, 2019 in Dallas. For more information, or to register, click here.

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Tags: Apartments & Multifamily, Sale