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7203 S King Dr 12 Unit Apartment Building $925,000 ($77,083/Unit) 10.42% Cap Rate Chicago, IL 60619
INVESTMENT HIGHLIGHTS
- Five (5) 3Bd/1Ba, Five (5) 2Bd/1Ba, & Two (2) 1Bd/1Ba Units
- Prime Grand Crossing Location
- Newer Porches
- 10.42% Cap Rate
- Updated Kitchens & Baths
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively offer for purchase 7201 S. King, a twelve (12) unit apartment building located in the Grand Crossing neighborhood of Chicago’s South Side. Sitting just north of Chatham, 7201 S. 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.
7201 S. King is comprised of two (2) 1Bd/1Ba, five (5) 2Bd/1Ba and five (5) 3Bd/1Ba units. Each unit boasts an open and spacious layout consisting of hardwood floors, large separate living rooms, and an abundance of natural light. Recent improvements to the building consist of, but not limited to: newer porches, updated kitchens and baths, and an abundance of masonry and tuckpointing work.
7201 S. King presents an investor an incredible opportunity to acquire a stabilized, cash flowing asset in Chicago’s Grand Crossing neighborhood. With the current operation from day one, an investor will realize over a 10% cap rate and a 20.39% cash return.
7201 S. King is comprised of two (2) 1Bd/1Ba, five (5) 2Bd/1Ba and five (5) 3Bd/1Ba units. Each unit boasts an open and spacious layout consisting of hardwood floors, large separate living rooms, and an abundance of natural light. Recent improvements to the building consist of, but not limited to: newer porches, updated kitchens and baths, and an abundance of masonry and tuckpointing work.
7201 S. King presents an investor an incredible opportunity to acquire a stabilized, cash flowing asset in Chicago’s Grand Crossing neighborhood. With the current operation from day one, an investor will realize over a 10% cap rate and a 20.39% cash return.
PROPERTY FACTS
| Price | $925,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $77,083 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 10.42% | Building Size | 15,000 SF |
| No. Units | 12 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | ||
| Zoning | RS-3 | ||
| Price | $925,000 |
| Price Per Unit | $77,083 |
| Sale Type | Investment |
| Cap Rate | 10.42% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 15,000 SF |
| No. Stories | 4 |
| Year Built | 1911 |
| Zoning | RS-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 750 |
| 2+1 | 5 | - | 850 |
| 3+1 | 5 | - | 950 |
1 1
Walk Score®
Very Walkable (80)
Transit Score®
Excellent Transit (74)
PROPERTY TAXES
| Parcel Number | 20-27-208-001-0000 | Improvements Assessment | $58,698 |
| Land Assessment | $7,703 | Total Assessment | $66,401 |
PROPERTY TAXES
Parcel Number
20-27-208-001-0000
Land Assessment
$7,703
Improvements Assessment
$58,698
Total Assessment
$66,401
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