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Kedzie Apartments 14513-14523 S Kedzie Ave 32 Unit Apartment Building $2,480,000 ($77,500/Unit) 9.05% Cap Rate Posen, IL 60469
INVESTMENT HIGHLIGHTS
- Diverse unit mix: studios & 1 beds
- 24 of 32 apartments fully rehabbed
- Over 14% cash return AS-IS
- Tenant paid heat via electric baseboard
EXECUTIVE SUMMARY
Real Realty is pleased to present for sale the Kedzie Apartments located in Posen in southern Cook County. This opportunity presents an investor to acquire 32 apartments consisting of 16 studios and 16 one bed one baths. 24 of the 32 apartments have been fully renovated. Remodoled apartments on average are renting out for $100 more than than non-renovated apartments.
Returns are currently strong in this building yielding a cash return of over 14%. Tenants pay for their own heat and electricity and landlord covers water. There is a 1/2 basement in each building and a storage shed.
Returns are currently strong in this building yielding a cash return of over 14%. Tenants pay for their own heat and electricity and landlord covers water. There is a 1/2 basement in each building and a storage shed.
PROPERTY FACTS
| Price | $2,480,000 | Building Class | C |
| Price Per Unit | $77,500 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 19,890 SF |
| Cap Rate | 9.05% | No. Stories | 2 |
| No. Units | 32 | Year Built/Renovated | 1964/2023 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | D - Apartment Zoning District | ||
| Price | $2,480,000 |
| Price Per Unit | $77,500 |
| Sale Type | Investment |
| Cap Rate | 9.05% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 19,890 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2023 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | D - Apartment Zoning District |
AMENITIES
UNIT AMENITIES
- Cable Ready
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Oven
- Porch
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | 600 |
| 1+1 | 16 | - | 750 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $50,519 | |
| Land Assessment | $6,323 | Total Assessment | $56,842 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$6,323
Improvements Assessment
$50,519
Total Assessment
$56,842
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Kedzie Apartments | 14513-14523 S Kedzie Ave
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