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6842 S. Merrill ave 10 Unit Apartment Building Offered at $1,175,000 at a 10.79% Cap Rate Chicago, IL 60649
Investment Highlights
- Two (2) 1Bd/1Ba, One (1) 2Bd/1Ba, & Seven (7) 3Bd/1Ba
- Abundance of Masonry & Tuckpointing Work
- Modern Kitchens & Baths
- Prime Jackson Park Location
Executive Summary
Kiser Group is pleased to exclusively present for purchase 6842 S. Merrill, a well-maintained ten (10) unit building located on a quiet, tree-lined street in Chicago’s South Side. The property benefits from its proximity to local transportation, Lake Michigan, neighborhood retail, and continued investment throughout the surrounding area.
6842 S. Merrill features a highly desirable unit mix consisting of two (2) 1Bd/1Ba units, one (1) 2Bd/1Ba unit, and seven (7) 3Bd/1Ba units, appealing to a broad tenant base, particularly larger households seeking more spacious layouts. The units offer functional floor plans and strong rental demand, providing stability for current and future ownership.
The building presents investors with an exceptional in-place cap rate of 10.79%, delivering strong immediate returns. Through continued management and rental optimization, the asset has the potential to reach a 12.72% pro forma cap rate. Additionally, investors can achieve a 20.99% cash-on-cash return at current operations, with the opportunity to increase returns to 28.72% on a pro forma basis.
6842 S. Merrill features a highly desirable unit mix consisting of two (2) 1Bd/1Ba units, one (1) 2Bd/1Ba unit, and seven (7) 3Bd/1Ba units, appealing to a broad tenant base, particularly larger households seeking more spacious layouts. The units offer functional floor plans and strong rental demand, providing stability for current and future ownership.
The building presents investors with an exceptional in-place cap rate of 10.79%, delivering strong immediate returns. Through continued management and rental optimization, the asset has the potential to reach a 12.72% pro forma cap rate. Additionally, investors can achieve a 20.99% cash-on-cash return at current operations, with the opportunity to increase returns to 28.72% on a pro forma basis.
Property Facts
| Price | $1,175,000 | Property Type | Multifamily |
| Price Per Unit | $117,500 | Building Size | 8,052 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 10.79% | Year Built | 1924 |
| No. Units | 10 | Opportunity Zone |
Yes
|
| Zoning | RM-5 | ||
| Price | $1,175,000 |
| Price Per Unit | $117,500 |
| Sale Type | Investment |
| Cap Rate | 10.79% |
| No. Units | 10 |
| Property Type | Multifamily |
| Building Size | 8,052 SF |
| No. Stories | 3 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 800 |
| 2+1 | 1 | - | 1,000 |
| 3+1 | 7 | - | 1,200 |
1 1
Moderately walkable
70/100
Fairly drivable
50/100
Good public transit
60/100
Moderately bikeable
70/100
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6842 S. Merrill ave
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