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7414 S Kimbark Ave - 7415 S Kimbark Avenue 31 Unit Apartment Building Offered at $2,325,000 at a 10.77% Cap Rate Chicago, IL 60619
Investment Highlights
- The property underwent a full renovation in 2009 including HVAC, electrical, plumbing, drywall and more
- New ownership has the potential to recapture an estimated $10,000 annually by implementing a utility bill-back program, further enhancing NOI.
- Current gross revenue is more than $225,000 below market, creating significant upside through lease-up of near-term eviction units and vacancies
Property Facts
| Price | $2,325,000 | Property Type | Multifamily |
| Price Per Unit | $75,000 | Building Size | 22,456 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 10.77% | Year Built/Renovated | 1927/2009 |
| Gross Rent Multiplier | 5.14 | Opportunity Zone |
Yes
|
| No. Units | 31 |
| Price | $2,325,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| Cap Rate | 10.77% |
| Gross Rent Multiplier | 5.14 |
| No. Units | 31 |
| Property Type | Multifamily |
| Building Size | 22,456 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1927/2009 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 2+1 | 6 | - | - |
1 1
Walk Score®
Very Walkable (72)
Bike Score®
Very Bikeable (73)
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7414 S Kimbark Ave - 7415 S Kimbark Avenue
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