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8321 S King Dr 28 Unit Apartment Building $2,500,000 ($89,286/Unit) 9.12% Cap Rate Chicago, IL 60619
Investment Highlights
- Twelve (12) 2Bd/1Ba, Eleven (11) 1Bd/1Ba, & Five (5) Studios
- 36 Car Parking Lot in Rear
- Meticulously Maintained Building w/ Updated Kitchen & Baths
- New Roof & Hot Water Tanks
Executive Summary
Kiser Group is pleased to exclusively offer for purchase 8321 S. King Dr, a twenty-eight (28) unit apartment building located in the Chatham area on Chicago’s South Side. Situated along South King Drive, the property benefits from convenient access to public transportation, major roadways, and nearby neighborhood amenities.
8321 S. King is comprised of twelve (12) 2B/1Ba, eleven (11) 1Bd/1Ba, and five (5) studio units, offering a desirable unit mix for a wide tenant base. Each unit features spacious layouts and modern kitchens and baths. Further improvements include but are not limited to: newer hot water tanks, newer roof, 600 AMP electric service, and 36 parking spots.
8321 S. King presents investors with an excellent opportunity to acquire a stabilized, income-producing asset in a solid South Side rental market. Based on current operations, an investor can expect to achieve approximately a 9.12% cap rate and a 14.32% cash-on-cash return from day one.
8321 S. King is comprised of twelve (12) 2B/1Ba, eleven (11) 1Bd/1Ba, and five (5) studio units, offering a desirable unit mix for a wide tenant base. Each unit features spacious layouts and modern kitchens and baths. Further improvements include but are not limited to: newer hot water tanks, newer roof, 600 AMP electric service, and 36 parking spots.
8321 S. King presents investors with an excellent opportunity to acquire a stabilized, income-producing asset in a solid South Side rental market. Based on current operations, an investor can expect to achieve approximately a 9.12% cap rate and a 14.32% cash-on-cash return from day one.
Property Facts
| Price | $2,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $89,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 9.12% | Building Size | 17,100 SF |
| No. Units | 28 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | ||
| Zoning | 10 | ||
| Price | $2,500,000 |
| Price Per Unit | $89,286 |
| Sale Type | Investment |
| Cap Rate | 9.12% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 17,100 SF |
| No. Stories | 3 |
| Year Built | 1966 |
| Zoning | 10 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 700 |
| 1+1 | 11 | - | 800 |
| 2+1 | 12 | - | 950 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 20-34-400-068-0000 | Improvements Assessment | $113,150 |
| Land Assessment | $20,750 | Total Assessment | $133,900 |
Property Taxes
Parcel Number
20-34-400-068-0000
Land Assessment
$20,750
Improvements Assessment
$113,150
Total Assessment
$133,900
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