7540-7542 S Kingston Ave 6 Unit Block of Flats £414,370 (£69,062/Unit) 9.02% Net Initial Yield Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- Six (6) 3Bd/2Ba Units
- Prime South Shore Location
- Spacious Layouts
- New boiler (2023)
EXECUTIVE SUMMARY
7542 S. Kingston presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.00% and a cash return of 13%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could increase the cap rate to over 11% and a cash return of 22.34%.
PROPERTY FACTS
| Price | £414,370 |
| Price Per Unit | £69,062 |
| Sale Type | Investment |
| Net Initial Yield | 9.02% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 10,800 SF |
| Number of Floors | 3 |
| Year Built | 1926 |
| Parking Ratio | 0.46/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Wooden Floors
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2 | 6 | - | 1,850 |
1 of 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 21-30-302-014-0000 | Improvements Assessment | £35,124 |
| Land Assessment | £4,204 | Total Assessment | £39,327 |
