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4625 S Drexel Blvd
Chicago, IL 60653
Kenwood · Multifamily Property For Sale
·
62 Units
INVESTMENT HIGHLIGHTS
- Thirty-Nine (39) 1Bd/1Ba & Twenty-Three (23) 2Bd/1Ba
- Individual HVAC
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase 4625 S. Drexel, a sixty-two (62) unit building located on a quiet, tree-lined street amongst a variety of single-family townhomes and has tremendous curb appeal. Situated in a premier location in Chicago's historic North Kenwood neighborhood, the asset is ideally located just blocks away from Lake Michigan, Williams-Davis Park, providing easy access to S. Lake Shore Dr. and Chicago's downtown, along with a close proximity to Hyde Park and the University of Chicago.
4625 S. Drexel boasts a desirable unit mix, comprised of thirty-nine (39) 1Bd/1Ba, and twenty-three (23) 2Bd/1Ba units. All of which are incredibly spacious and have gone through extensive renovations and include modern finishes. Typical units include, but are not limited to, hardwood floors, stainless steel appliances, and individual laundry units as well as HVAC furnaces.
4625 S. Drexel provides investors with the unique opportunity to obtain a stabilized, cash-flowing asset in one of Chicago's most rapidly appreciating neighborhoods . From day one, an investor will realize an in-place cap rate of 7% and a cash return of 12.84%. Additionally, there is a current loan on the building that is assumable. At list price, a new owner has the opportunity to assume a 3.32% interest rate with roughly 5yrs left at roughly 78% LTV.
4625 S. Drexel boasts a desirable unit mix, comprised of thirty-nine (39) 1Bd/1Ba, and twenty-three (23) 2Bd/1Ba units. All of which are incredibly spacious and have gone through extensive renovations and include modern finishes. Typical units include, but are not limited to, hardwood floors, stainless steel appliances, and individual laundry units as well as HVAC furnaces.
4625 S. Drexel provides investors with the unique opportunity to obtain a stabilized, cash-flowing asset in one of Chicago's most rapidly appreciating neighborhoods . From day one, an investor will realize an in-place cap rate of 7% and a cash return of 12.84%. Additionally, there is a current loan on the building that is assumable. At list price, a new owner has the opportunity to assume a 3.32% interest rate with roughly 5yrs left at roughly 78% LTV.
PROPERTY FACTS
| Price Per Unit | $223,387 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 7.01% | Building Size | 32,100 SF |
| No. Units | 62 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1927 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RM-5 | ||
| Price Per Unit | $223,387 |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| No. Units | 62 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.47 AC |
| Building Size | 32,100 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 39 | - | 550 - 600 |
| 2+1 | 23 | - | 700 |
PROPERTY TAXES
| Parcel Number | 20-02-316-004-0000 | Improvements Assessment | $188,811 |
| Land Assessment | $24,389 | Total Assessment | $213,200 |
PROPERTY TAXES
Parcel Number
20-02-316-004-0000
Land Assessment
$24,389
Improvements Assessment
$188,811
Total Assessment
$213,200
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