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8439 S Blackstone Ave 10 Unit Apartment Building $750,000 ($75,000/Unit) 10.33% Cap Rate Chicago, IL 60619
INVESTMENT HIGHLIGHTS
- Spacious 1Bd/1Ba Units
- Updated Kitchen and Baths
- Desirable Calumet Heights Location
- 10.33% Cap Rate
- Hardwood Flooring Throughout
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase 8439 S. Blackstone Ave, a Ten (10) unit courtyard located in Chicago’s Calumet Heights neighborhood. The property is tucked away on a quiet, tree-lined street and is within walking distance to Grand Crossing Park. Located in Chicago’s Calumet Heights community, 8439 S. Blackstone offers residents easy access to Avalon Park, local schools, shopping centers, and transit options, blending neighborhood charm with everyday convenience.
8439 S. Blackstone is comprised of ten (10) 1Bd/1Ba units. Each unit boasts an open and spacious layout consisting of hardwood floors, large separate living rooms, and an abundance of natural light. Recent improvements to the building consist of, but not limited to: newer porches, updated kitchens and baths, and an abundance of masonry and tuckpointing work.
8439 S. Blackstone presents and investor an opportunity to acquire a cash-flowing asset in Chicago's Calumet Heights neighborhood. With current operations, an investor will realize a 10.33% cap rate and a 18.55% cash return. By increasing rent already achieved in the area, an investor can achieve a cap rate of 11.69% and a 23.99% cash return.
8439 S. Blackstone is comprised of ten (10) 1Bd/1Ba units. Each unit boasts an open and spacious layout consisting of hardwood floors, large separate living rooms, and an abundance of natural light. Recent improvements to the building consist of, but not limited to: newer porches, updated kitchens and baths, and an abundance of masonry and tuckpointing work.
8439 S. Blackstone presents and investor an opportunity to acquire a cash-flowing asset in Chicago's Calumet Heights neighborhood. With current operations, an investor will realize a 10.33% cap rate and a 18.55% cash return. By increasing rent already achieved in the area, an investor can achieve a cap rate of 11.69% and a 23.99% cash return.
PROPERTY FACTS Under Contract
| Price | $750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $75,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 10.33% | Building Size | 11,889 SF |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RS-2 | ||
| Price | $750,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| Cap Rate | 10.33% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 11,889 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | RS-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 750 |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 20-35-408-001-0000 | Improvements Assessment | $50,210 |
| Land Assessment | $9,190 | Total Assessment | $59,400 |
PROPERTY TAXES
Parcel Number
20-35-408-001-0000
Land Assessment
$9,190
Improvements Assessment
$50,210
Total Assessment
$59,400
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8439 S Blackstone Ave
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