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7342 S Kingston Ave 7342 Kingston Ave 18 Unit Apartment Building $1,100,000 ($61,111/Unit) 13.05% Cap Rate Chicago, IL 60649
Investment Highlights
- 61K Per Unit
- Newer Roof
- Twelve (12) 2Bd/1Ba, Three (3) 1Bd/1Ba & Three (3) Studios
- On-Site Laundry Facility
Executive Summary
Kiser Group is pleased to exclusively offer for purchase 7342 S. Kingston, a rarely available eighteen (18) unit located in Chicago’s South Shore neighborhood. The asset is ideally situated just blocks from Lake Michigan and Rainbow Beach Park. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes.
7342 S. Kingston is currently comprised of twelve (12) 2Bd/1ba, three (3) 1Bd/1Ba, & three (3) studio units. All units feature incredibly spacious layouts with hardwood floors and an abundance of natural light. Throughout the years, the building has undergone extensive renovations consisting of, but not limited to: a new roof, boiler with R&D control system, on-site laundry facility, and an abundance of cosmetic updates.
7342 S. Kingston presents an investor a unique opportunity to acquire a true value-add project in the heart of Chicago's appreciating South Shore neighborhood. Through unit renovations and leasing up the property, a new investor could achieve significant cash returns and double-digit cap rates.
7342 S. Kingston is currently comprised of twelve (12) 2Bd/1ba, three (3) 1Bd/1Ba, & three (3) studio units. All units feature incredibly spacious layouts with hardwood floors and an abundance of natural light. Throughout the years, the building has undergone extensive renovations consisting of, but not limited to: a new roof, boiler with R&D control system, on-site laundry facility, and an abundance of cosmetic updates.
7342 S. Kingston presents an investor a unique opportunity to acquire a true value-add project in the heart of Chicago's appreciating South Shore neighborhood. Through unit renovations and leasing up the property, a new investor could achieve significant cash returns and double-digit cap rates.
Property Facts
| Price | $1,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $61,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 13.05% | Building Size | 14,800 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 - Residential | ||
| Price | $1,100,000 |
| Price Per Unit | $61,111 |
| Sale Type | Investment |
| Cap Rate | 13.05% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 14,800 SF |
| No. Stories | 3 |
| Year Built | 1922 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 600 |
| 1+1 | 3 | - | 700 |
| 2+1 | 12 | - | 900 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 21-30-110-021-0000 | Improvements Assessment | $65,503 |
| Land Assessment | $9,598 | Total Assessment | $75,101 |
Property Taxes
Parcel Number
21-30-110-021-0000
Land Assessment
$9,598
Improvements Assessment
$65,503
Total Assessment
$75,101
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