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7415 S Kimbark Avenue 7415-7423 S Kimbark Ave 31 Unit Apartment Building $2,325,000 ($75,000/Unit) 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 | Apartment Style | Low-Rise |
| Price Per Unit | $75,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 10.77% | Building Size | 22,466 SF |
| Gross Rent Multiplier | 5.14 | No. Stories | 3 |
| No. Units | 31 | Year Built/Renovated | 1927/2009 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | RS-3, Chicago | ||
| 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 |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 22,466 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1927/2009 |
| Opportunity Zone |
Yes |
| Zoning | RS-3, Chicago |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Recycling
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 2+1 | 6 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-26-225-005-0000 | Improvements Assessment | $236,550 |
| Land Assessment | $15,750 | Total Assessment | $252,300 |
Property Taxes
Parcel Number
20-26-225-005-0000
Land Assessment
$15,750
Improvements Assessment
$236,550
Total Assessment
$252,300
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7415 S Kimbark Avenue | 7415-7423 S Kimbark Ave
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