7831 South Kingston AvenueChicago, IL 60649Price: $1,280,000

  • Price: $1,280,000
  • 80 Days on Market
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Federal 30-year interest rate: 6.29% last updated on Sep 22, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 0.17Acreage
  • 9,864Square Feet
  • 1924Year Built

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South Shore, 12-unit portfolio now available. Portfolio consists of two side by side, 6-unit, center entrance, brick buildings. These properties provide a fully turn-key opportunity for your next investment. Currently operating at 8.9% CAP (CAP of 10.3% achievable with-in 12 mos with simple rent increase at renewal). Current annual income is $148,260 with a NOI of $114,378. Units have individual tenant-paid furnaces. Buildings consist of: NINE 2BR/1bth units and THREE 3BR/1bth units. All units are rented. NO real work to do, start collecting rent immediately. Eleven of the twelve units have been updated within the last 9 months. Most of the windows in the building are new. Parking spots off the alley in the rear allow for future additional income. Located in the Chicago's South Shore neighborhood these units are in demand and rent easily. From day one, an investor will realize an in-place cap rate of 8.9%. Given the strong demand in this location current rents are (~15%) below market. Simple rent increases at renewal will allow n investor to achieve a CAP rate of 10.3%. Schedule today!

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Listed by John Astorina and Ashley Carter of Keller Williams ONEChicago

Based on information submitted to MRED  as of September 26, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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