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Kingston Apartments 7833 S Kingston Ave 6 Unit Apartment Building $674,500 ($112,417/Unit) Chicago, IL 60649
Executive Summary
Prime Value-Add investment opportunity in nice South Shore neighborhood. 6-unit m/u property, comprised of (4) 2 Bedroom/1Bath Units and (2) 3 Bedroom/1 Bath units. (Being offered as discounted package with adjacent 6-unit identical building. MLS#12499606) 6-unit brick building, with center entrances front and back, with rear parking. Each unit with large bright living room, 2 or 3 full bedrooms, dining/family room, and separate kitchen with pantry and leading to back enclosed porch. Over half of the apartments have been completely remodeled to leverage higher market rents. New owner can complete rehab of additional units and leverage appreciation of market rents, or easily convert all remaining 2 bedrooms into 3 bedrooms. The opportunity is here to step into cash flow on day one and to also improve overall performance through leasing and management. Conveniently located a short distance from public transportation, including Metra, beautiful Lake Michigan, and surrounded by numerous grocery stores and shops. This multifamily opportunity offers immediate value-add potential from the moment of acquisition.
Property Facts
| Price | $674,500 | Building Class | C |
| Price Per Unit | $112,417 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 14,880 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1924 |
| Property Subtype | Apartment | Parking Ratio | 0.4/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R - Residential | ||
| Price | $674,500 |
| Price Per Unit | $112,417 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 14,880 SF |
| No. Stories | 3 |
| Year Built | 1924 |
| Parking Ratio | 0.4/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R - Residential |
Amenities
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 21-30-328-007-0000 | Improvements Assessment | $45,620 |
| Land Assessment | $5,580 | Total Assessment | $51,200 |
Property Taxes
Parcel Number
21-30-328-007-0000
Land Assessment
$5,580
Improvements Assessment
$45,620
Total Assessment
$51,200
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Kingston Apartments | 7833 S Kingston Ave
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