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2338 S Kedzie Ave 9 Unit Apartment Building $1,150,000 ($127,778/Unit) 7.60% Cap Rate Chicago, IL 60623
Investment Highlights
- 20% Rental Upside As-Is
- Diverse Unit Mix
- Occupied and Stable Commercial
Executive Summary
Kiser Group is pleased to present two adjacent properties for sale at 2338 and 2340 S Kedzie.
2338 S Kedzie is an eight-unit mixed-use building featuring seven apartments above a fully occupied ground-floor commercial space. Directly to the south, 2340 S Kedzie consists of a garage and parking lot currently operated as a tire shop.
Both properties are fully occupied, offering a buyer stable income in a desirable retail location. Additionally, there is significant upside potential, as current rents are below market and can be increased by approximately 20% in their as-is condition.
2338 S Kedzie is an eight-unit mixed-use building featuring seven apartments above a fully occupied ground-floor commercial space. Directly to the south, 2340 S Kedzie consists of a garage and parking lot currently operated as a tire shop.
Both properties are fully occupied, offering a buyer stable income in a desirable retail location. Additionally, there is significant upside potential, as current rents are below market and can be increased by approximately 20% in their as-is condition.
Property Facts
| Price | $1,150,000 | Building Class | C |
| Price Per Unit | $127,778 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 9,275 SF |
| Cap Rate | 7.60% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1907 |
| Property Subtype | Apartment | Parking Ratio | 0.65/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B3-2 | ||
| Price | $1,150,000 |
| Price Per Unit | $127,778 |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 9,275 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1907 |
| Parking Ratio | 0.65/1,000 SF |
| Zoning | B3-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 500 |
| 1+1 | 2 | - | 625 |
| 2+1 | 3 | - | 775 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (75)
Property Taxes
| Parcel Number | 16-26-215-035-0000 | Improvements Assessment | $57,987 |
| Land Assessment | $4,063 | Total Assessment | $62,050 |
Property Taxes
Parcel Number
16-26-215-035-0000
Land Assessment
$4,063
Improvements Assessment
$57,987
Total Assessment
$62,050
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2338 S Kedzie Ave
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