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6129 S Greenwood Ave 12 Unit Apartment Building $1,000,000 ($83,333/Unit) 13.92% Cap Rate Chicago, IL 60637
INVESTMENT HIGHLIGHTS
- Nine (9) 1Bd/1Ba & Three (3) 2Bd/1ba Units
- 83K Per Unit
- One (1) Block from the University of Chicago
- Complete Renovation Needed
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively offer for purchase 6129 S. Greenwood, a rarely available twelve (12) unit building located just outside of Hyde Park in Chicago’s East Woodlawn neighborhood. The property is located just blocks from the prestigious University of Chicago. Additionally, the asset sits just blocks away from the construction site of the future Obama Presidential Library.
6129 S. Greenwood is uniquely comprised of nine (9) 1Bd/1Ba and three (3) 2Bd/1Ba units. The building is completely gutted and is in serious need of mechanical work to bring operations up to par. Incredibly spacious unit layouts allow an investor to fully renovate the property and assume top of the market rents post-construction. Given the property’s location and large unit layouts, there is ample demand for apartments such as these after the appropriate renovations take place.
6129 S. Greenwood presents an investor a unique opportunity to acquire a true value-add project in the heart of Chicago's highly desirable Woodlawn neighborhood. Through unit renovations and an investment in newer mechanical systems, a new investor could achieve significant cash returns and double-digit cap rates.
6129 S. Greenwood is uniquely comprised of nine (9) 1Bd/1Ba and three (3) 2Bd/1Ba units. The building is completely gutted and is in serious need of mechanical work to bring operations up to par. Incredibly spacious unit layouts allow an investor to fully renovate the property and assume top of the market rents post-construction. Given the property’s location and large unit layouts, there is ample demand for apartments such as these after the appropriate renovations take place.
6129 S. Greenwood presents an investor a unique opportunity to acquire a true value-add project in the heart of Chicago's highly desirable Woodlawn neighborhood. Through unit renovations and an investment in newer mechanical systems, a new investor could achieve significant cash returns and double-digit cap rates.
PROPERTY FACTS
| Price | $1,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $83,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 13.92% | Building Size | 8,964 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Parking Ratio | 0.45/1,000 SF |
| Zoning | RM-5 - Residential | ||
| Price | $1,000,000 |
| Price Per Unit | $83,333 |
| Sale Type | Investment |
| Cap Rate | 13.92% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 8,964 SF |
| No. Stories | 3 |
| Year Built | 1910 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | RM-5 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- 24 Hour Access
- Vintage Building
- Wi-Fi
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | - | 700 |
| 2+1 | 3 | - | 850 |
1 1
Walk Score®
Very Walkable (71)
Transit Score®
Excellent Transit (75)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 20-14-311-008-0000 | Improvements Assessment | $45,313 |
| Land Assessment | $10,688 | Total Assessment | $56,001 |
PROPERTY TAXES
Parcel Number
20-14-311-008-0000
Land Assessment
$10,688
Improvements Assessment
$45,313
Total Assessment
$56,001
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6129 S Greenwood Ave
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