The Victorian | 8% Cap Rate | Hyde Park | 5326 S Cornell Ave
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The Victorian | 8% Cap Rate | Hyde Park 5326 S Cornell Ave 64 Unit Apartment Building $7,250,000 ($113,281/Unit) 8.03% Cap Rate Chicago, IL 60615
INVESTMENT HIGHLIGHTS
- Prime Hyde Park Location
- Significant Rental Upside
- Call For Offers July 15th
- 8% Cap Rate
- On-Site Laundry Facilities
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase The Victorian, a sixty-four (64) unit building located at 5326-28 S. Cornell Ave. Situated in a premier location in one of Chicago's most rapidly appreciating neighborhoods, the asset is ideally located just blocks away from the University of Chicago, downtown Hyde Park, and Lake Michigan.
The Victorian is comprised of forty (40) studios and twenty-four (24) 1bd/1ba units. All of which, however, are meticulously maintained. Recent improvements to the buildings include, but are not limited to, updated electric, newer windows & porches, and an abundance of masonry & tuckpointing work.
The Victorian presents an investor with the opportunity to acquire sixty-four (64) units in the heart of Chicago's Hyde Park neighborhood. This offering presents a sizable asset in a neighborhood with limited sales activity, making it an attractive proposition for investors seeking immediate economies of scale and potential for further value enhancement.?
The Victorian is comprised of forty (40) studios and twenty-four (24) 1bd/1ba units. All of which, however, are meticulously maintained. Recent improvements to the buildings include, but are not limited to, updated electric, newer windows & porches, and an abundance of masonry & tuckpointing work.
The Victorian presents an investor with the opportunity to acquire sixty-four (64) units in the heart of Chicago's Hyde Park neighborhood. This offering presents a sizable asset in a neighborhood with limited sales activity, making it an attractive proposition for investors seeking immediate economies of scale and potential for further value enhancement.?
PROPERTY FACTS
| Price | $7,250,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $113,281 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8.03% | Building Size | 33,350 SF |
| No. Units | 64 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1920 |
| Zoning | RM-5 | ||
| Price | $7,250,000 |
| Price Per Unit | $113,281 |
| Sale Type | Investment |
| Cap Rate | 8.03% |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 33,350 SF |
| Average Occupancy | 95% |
| No. Stories | 5 |
| Year Built | 1920 |
| Zoning | RM-5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
SITE AMENITIES
- 24 Hour Access
- Business Center
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Elevator
- Maintenance on site
- Online Services
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 40 | - | 321 |
| 1+1 | 24 | - | 376 |
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Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 20-12-110-005-0000 | Improvements Assessment | $487,150 |
| Land Assessment | $62,050 | Total Assessment | $549,200 |
PROPERTY TAXES
Parcel Number
20-12-110-005-0000
Land Assessment
$62,050
Improvements Assessment
$487,150
Total Assessment
$549,200
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The Victorian | 8% Cap Rate | Hyde Park | 5326 S Cornell Ave
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