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7151 S King Dr 11 Unit Apartment Building $1,050,000 ($95,455/Unit) 10.01% Cap Rate Chicago, IL 60619
Investment Highlights
- One (1) 3Bd/1Ba & Ten (10) 2Bd/1Ba Units
- Modern Kitchens & Baths w/ Granite Countertops
- Individually Furnaced & New Hot Water Tanks
- Very Desirable Grand Crossing Location
Executive Summary
Kiser Group is pleased to exclusively offer for purchase 7151 S. King, an eleven (11) unit apartment building located in the Grand Crossing neighborhood of Chicago’s South Side. King is located across the street from Meyering (William) Park and just a few blocks away from Chicago’s Red Line “El” train station at 69th and the Dan Ryan Expressway.
7151 S. King is comprised of ten (10) 2Bd/1Ba units and one (1) 3Bd/1Ba unit. Each unit features hardwood floors and spacious layouts, providing comfortable living spaces for tenants. The building is individually furnaced, and also offers the convenience of in-building laundry services. Recent capital improvements include new hot water tanks.
7151 S. King presents investors with an excellent opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Grand Crossing neighborhood. Based on current operations, an investor can expect to achieve approximately a 10% cap rate and a 17.87% cash-on-cash return from day one.
7151 S. King is comprised of ten (10) 2Bd/1Ba units and one (1) 3Bd/1Ba unit. Each unit features hardwood floors and spacious layouts, providing comfortable living spaces for tenants. The building is individually furnaced, and also offers the convenience of in-building laundry services. Recent capital improvements include new hot water tanks.
7151 S. King presents investors with an excellent opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Grand Crossing neighborhood. Based on current operations, an investor can expect to achieve approximately a 10% cap rate and a 17.87% cash-on-cash return from day one.
Property Facts
| Price | $1,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $95,455 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 10.01% | Building Size | 8,250 SF |
| No. Units | 11 | Average Occupancy | 91% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | R4, Chicago | ||
| Price | $1,050,000 |
| Price Per Unit | $95,455 |
| Sale Type | Investment |
| Cap Rate | 10.01% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 8,250 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | R4, Chicago |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 1,100 |
| 3+1 | 1 | - | 1,200 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-27-200-017-0000 | Improvements Assessment | $48,840 |
| Land Assessment | $14,360 | Total Assessment | $63,200 |
Property Taxes
Parcel Number
20-27-200-017-0000
Land Assessment
$14,360
Improvements Assessment
$48,840
Total Assessment
$63,200
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