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4034 S Prairie Ave 8 Unit Apartment Building $1,475,000 ($184,375/Unit) 7.03% Cap Rate Chicago, IL 60653
Investment Highlights
- Highly Desirable Bronzeville Location
- Newly Rehabbed w/ High End Finishes
- Individual HVAC & Hot Water Tanks
- Eight (8) Spacious 3Bd/1Ba Units
- Modern Kitchens w/ Quartz Countertops & Stainless Steel Appliances
Executive Summary
Kiser Group is pleased to exclusively offer for purchase the sale of 4034 S. Prairie Ave, a pristine six (8) unit walk-up tucked away in the Bronzeville neighborhood of Chicago’s South Side. The subject site sits directly in the core of one of Chicago’s most rapidly expanding neighborhoods and is roughly a 15-minute drive to Chicago's downtown.
4034 S. Prairie has a desirable unit mix consisting of eight (8) 3Bd/1Ba units. All of the units have spacious layouts and have been extensively renovated with high-end finishes. Recent capital improvements include, but are not limited to: individual furnaces, in-unit hot water tanks, copper plumbing, new electric system, and renovated kitchen and baths w/ granite countertops & stainless steel appliances.
4034 S. Prairie presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 7.03%. Given the quality of the units coupled with the prime location, an investor could increase the cap rate to over 7.7%.
4034 S. Prairie has a desirable unit mix consisting of eight (8) 3Bd/1Ba units. All of the units have spacious layouts and have been extensively renovated with high-end finishes. Recent capital improvements include, but are not limited to: individual furnaces, in-unit hot water tanks, copper plumbing, new electric system, and renovated kitchen and baths w/ granite countertops & stainless steel appliances.
4034 S. Prairie presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 7.03%. Given the quality of the units coupled with the prime location, an investor could increase the cap rate to over 7.7%.
Property Facts
| Price | $1,475,000 | Building Class | C |
| Price Per Unit | $184,375 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 7.03% | No. Stories | 3 |
| No. Units | 8 | Year Built | 1896 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM-5 | ||
| Price | $1,475,000 |
| Price Per Unit | $184,375 |
| Sale Type | Investment |
| Cap Rate | 7.03% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 6,000 SF |
| No. Stories | 3 |
| Year Built | 1896 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 8 | - | 1,200 |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (71)
Property Taxes
| Parcel Number | 20-03-109-033-0000 | Improvements Assessment | $46,000 |
| Land Assessment | $28,000 | Total Assessment | $74,000 |
Property Taxes
Parcel Number
20-03-109-033-0000
Land Assessment
$28,000
Improvements Assessment
$46,000
Total Assessment
$74,000
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4034 S Prairie Ave
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