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11343 S King Dr 13 Unit Apartment Building $795,000 ($61,154/Unit) 11.56% Cap Rate Chicago, IL 60628
Investment Highlights
- [9] 1-Bed | 1-Bath Units [3] 2-Bed | 1-Bath Units [1] 3-Bed | 1-Bath Unit
- Projected to generate $92k in NOI with proper asset management
- Through strategic renovations an incoming owner can unlock additional value
- Lease-up of vacant units will improve the average 1-bed rents from $983 to $1,025, 2-bed rents from $1,050 to 1,200, & the vacant 3-bed unit to $1,325
- Current cap rate of 8.3%, projected to increase to 10.5% on a stabilized basis
- Within walking distance to the Kensington South Shore Metra Electric Stop
Executive Summary
Nara Advisors is pleased to exclusively market for sale 11343 S King Dr, a 13-unit apartment building located in Chicago's Pullman neighborhood.
Property Facts
| Price | $795,000 | Apartment Style | Low-Rise |
| Price Per Unit | $61,154 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 11.56% | Building Size | 9,900 SF |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $795,000 |
| Price Per Unit | $61,154 |
| Sale Type | Investment |
| Cap Rate | 11.56% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 9,900 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
Amenities
Unit Amenities
- Kitchen
- Granite Countertops
- Hardwood Floors
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 2+1 | 3 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (71)
Property Taxes
| Parcel Number | 25-22-217-016-0000 | Improvements Assessment | $58,000 |
| Land Assessment | $11,200 | Total Assessment | $69,200 |
Property Taxes
Parcel Number
25-22-217-016-0000
Land Assessment
$11,200
Improvements Assessment
$58,000
Total Assessment
$69,200
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11343 S King Dr
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