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11029 S Vernon 11031 S Vernon Ave 6 Unit Apartment Building $450,000 ($75,000/Unit) 10.01% Cap Rate Chicago, IL 60628
Investment Highlights
- Six (6) 2 Bed / 1 Bath Units
- New Boiler Installed in 2025
- Spacious Floorplans with Separate Living & Dining Rooms
- Less than a Block from 111th (Pullman) Metra Station
Executive Summary
Kiser Group is pleased to exclusively present for purchase 11029 S. Vernon Avenue, a six (6) unit building located in Chicago’s Roseland neighborhood. The property is situated on a quiet residential street while remaining close to public transportation, providing residents with convenient access to Downtown Chicago and surrounding areas. Nearby retail corridors and neighborhood amenities support consistent rental demand in this established South Side submarket.
11029 S. Vernon Avenue consists of six (6) two-bedroom, one-bathroom units, all featuring spacious layouts, ample natural light, and functional floorplans attractive to long-term tenants. The building offers classic Chicago architecture and has been maintained to support stable occupancy.
11029 S. Vernon Avenue presents an investor with the opportunity to acquire a strong, positive cash-flowing multifamily asset with an in-place cap rate of 10.00% and a cash return of 17.88%. By increasing rents to levels already achieved within the surrounding market, an investor can realize a pro forma cap rate of 12.70% and a pro forma cash return of 28.63%.
11029 S. Vernon Avenue consists of six (6) two-bedroom, one-bathroom units, all featuring spacious layouts, ample natural light, and functional floorplans attractive to long-term tenants. The building offers classic Chicago architecture and has been maintained to support stable occupancy.
11029 S. Vernon Avenue presents an investor with the opportunity to acquire a strong, positive cash-flowing multifamily asset with an in-place cap rate of 10.00% and a cash return of 17.88%. By increasing rents to levels already achieved within the surrounding market, an investor can realize a pro forma cap rate of 12.70% and a pro forma cash return of 28.63%.
Property Facts Under Contract
| Price | $450,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 9,078 SF |
| Cap Rate | 10.01% | No. Stories | 3 |
| No. Units | 6 | Year Built | 1923 |
| Property Type | Multifamily | Parking Ratio | 0.74/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $450,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| Cap Rate | 10.01% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 9,078 SF |
| No. Stories | 3 |
| Year Built | 1923 |
| Parking Ratio | 0.74/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 1,100 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 25-15-412-024-0000 | Improvements Assessment | $27,213 |
| Land Assessment | $2,887 | Total Assessment | $30,100 |
Property Taxes
Parcel Number
25-15-412-024-0000
Land Assessment
$2,887
Improvements Assessment
$27,213
Total Assessment
$30,100
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11029 S Vernon | 11031 S Vernon Ave
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