7342 S Kingston Ave 18 Unit Apartment Building $1,100,000 ($61,111/Unit) 13.83% Cap Rate Chicago, IL 60649

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 fifteen (15) 2Bd/1ba and three (3) 1Bd/1Ba 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 with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 13.83% and a cash return of 33.14%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could increase the cap rate to over 15.42% and a cash return of 39.52%.