655 E 90th Pl 10 Unit Apartment Building $835,000 ($83,500/Unit) 10.03% Cap Rate Chicago, IL 60619

Kiser Group is pleased to exclusively offer for purchase the sale of 9036 S. Langley, a meticulously maintained and professionally managed ten (10) unit property, located in the desirable Burnside community of Chicago’s South Side. Nestled amongst an abundance of single family homes, the building sits on a quiet tree lined street just one (1) block away from Tuley Park, a community recreational center featuring a gym, auditorium, basketball courts, as well as ten lighted tennis courts. The building also sits just one block West of Cottage Grove’s commercial corridor featuring an assortment of retail and grocery options.
9036 S. Langley has an incredibly desirable unit mix comprised solely of two and three bedroom apartment units. Currently, the building consists of three (3) 3b/1ba apartments, and seven (7) 2b/1ba apartment. All of which are incredibly spacious and feature an abundance of natural light. Furthermore, the units are all equipped modern kitchens with newer cabinetry and appliances and updated bathrooms. Additionally, all of the units boast resurfaced hardwood flooring throughout. Recent capital improvements to the building consist of, but not limited to, a new roof (2021) along with new gutters, an updated and code compliant porch system, updated plumbing and electric, and individual in-unit furnaces.
9036 S. Langley presents an investor with the unique opportunity to acquire a stabilized, cash flowing asset. From day one, an investor will realize an in place cap rate of 10.03% and a cash return of 18.5%. Furthermore, by increasing rents to levels already being achieved in the building and surrounding area, an investor has the ability to achieve a cap rate over 13% and a cash return of nearly 32%