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8226 S Drexel Ave 6 Unit Apartment Building $700,000 ($116,667/Unit) 11.34% Cap Rate Chicago, IL 60619
INVESTMENT HIGHLIGHTS
- Four (4) 3Bd/1.5Ba & Two (2) 4Bd/2.5Ba Duplex Units
- Updated Kitchens & Baths
- 400 Amp Electric Service w/ In-Unit Breakers
- Incredibly Spacious Floorplans
- Individual HVAC & Hot Water Heaters
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase 8226 S. Drexel, a six (6) unit building located in Chicago’s Chatham neighborhood. The property is tucked away on a quiet, tree-lined street and is within walking distance to Grand Crossing Park. Additionally, the property sits just a few blocks away from the 79th and Chatham Metra station providing tenants quick and easy access to downtown Chicago via train.
8226 S. Drexel is comprised of four (4) 3Bd/1.5Ba and two (2) 4Bd/2.5Ba duplex units, all of which feature an incredibly spacious floorplan with hardwood flooring throughout and are equipped with individual HVAC and hot water heaters. Recent improvements to the building include, but are not limited to, updated 400 amp electric service with in-unit breaker boxes, five (5) car garage, and copper plumbing.
8226 S. Drexel presents an investor with the opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Chatham neighborhood. From day one, an investor will realize an 11.34% cap rate and a 22.62% cash return. By increasing rent already achieved in the area, an investor can achieve a cap rate of 12.93% and a 28.96% cash return.
8226 S. Drexel is comprised of four (4) 3Bd/1.5Ba and two (2) 4Bd/2.5Ba duplex units, all of which feature an incredibly spacious floorplan with hardwood flooring throughout and are equipped with individual HVAC and hot water heaters. Recent improvements to the building include, but are not limited to, updated 400 amp electric service with in-unit breaker boxes, five (5) car garage, and copper plumbing.
8226 S. Drexel presents an investor with the opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Chatham neighborhood. From day one, an investor will realize an 11.34% cap rate and a 22.62% cash return. By increasing rent already achieved in the area, an investor can achieve a cap rate of 12.93% and a 28.96% cash return.
PROPERTY FACTS Under Contract
| Price | $700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $116,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 11.34% | Building Size | 7,600 SF |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | RS-3 - Residential | ||
| Price | $700,000 |
| Price Per Unit | $116,667 |
| Sale Type | Investment |
| Cap Rate | 11.34% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 7,600 SF |
| No. Stories | 4 |
| Year Built | 1926 |
| Zoning | RS-3 - Residential |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Oven
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 4 | - | 1,200 |
| 4+2 | 2 | - | 1,400 |
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Walk Score®
Very Walkable (89)
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8226 S Drexel Ave
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