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5624 S King Dr 7 Unit Apartment Building $965,000 ($137,857/Unit) 6.30% Cap Rate Chicago, IL 60637
Executive Summary
Interra Realty has been exclusively engaged to present for sale 5624-26 S. King Drive. Located in the fast appreciating
Washington Park submarket, the subject property is a center entrance 7 unit building featuring (4) 4 BD/2 BA, (2) 3 BD/2
BA, & (1) 2 BD/1 BA. There is (1) non conforming garden unit, a 2 story garage in the rear of the property that is rented to a
local business, and a laundry room on site for tenant convenience
There is a significant value add component through the cosmetic renovation of apartment units by upgrading the
kitchens and baths to condo quality standard and bringing rents to the top of the market
Washington Park submarket, the subject property is a center entrance 7 unit building featuring (4) 4 BD/2 BA, (2) 3 BD/2
BA, & (1) 2 BD/1 BA. There is (1) non conforming garden unit, a 2 story garage in the rear of the property that is rented to a
local business, and a laundry room on site for tenant convenience
There is a significant value add component through the cosmetic renovation of apartment units by upgrading the
kitchens and baths to condo quality standard and bringing rents to the top of the market
Property Facts
| Price | $965,000 | Building Class | C |
| Price Per Unit | $137,857 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 8,202 SF |
| Cap Rate | 6.30% | Average Occupancy | 86% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1908 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM-5 | ||
| Price | $965,000 |
| Price Per Unit | $137,857 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 8,202 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built | 1908 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
Amenities
Site Amenities
- Laundry Facilities
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+2 | 2 | - | - |
| 4+2 | 4 | - | - |
Moderately walkable
70/100
Moderately drivable
70/100
Strong public transit
80/100
Exceptionally bikeable
90/100
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5624 S King Dr