7257 S Princeton Ave
- Six (6) 2Bd/1Ba, Three (3) 3Bd/1Ba, and Three (3) 3Bd/2Ba Units
- Spacious Units w/ Abundance of Natural Light
- Units Feature Private Balconies
- Newer Porches
Property Description
Kiser Group is pleased to exclusively present for purchase, 7257 S. Princeton Ave., a twelve (12) unit multifamily investment opportunity located in Chicago’s Englewood neighborhood. The property is conveniently located near the CTA Red Line, providing residents with direct access to Downtown Chicago and neighborhoods throughout the city. Additionally, the property sits near 71st Street, 79th Street, Halsted Street, and the Dan Ryan Expressway (I-90/94), providing convenient connectivity throughout Chicago’s South Side. 7257 S. Princeton has a unique unit composition comprised of six (6) 2Bd/1Ba units, three (3) 3Bd/1Ba units, and three (3) 3Bd/2Ba units. The property’s unit mix consists entirely of spacious two- and three-bedroom apartments, providing an attractive offering for the area’s renter base. With below-market rents currently in place, the property provides a clear opportunity for a new owner to increase revenue as units turn and rents are brought closer to market levels. 7257 S. Princeton provides an investor the opportunity to acquire a strong cash-flowing asset with significant additional upside. Offered at $715,000, a new owner will realize an in-place NOI of $71,841, equating to a 10.05% capitalization rate. Solely by increasing under-market rents toward market rates, NOI is projected to increase to $110,658, providing an investor the opportunity to realize a pro forma capitalization rate of 15.48%.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $715,000 |
| No. of Units: | 12 |
| Year Built: | 1913 |
| Lot Size: | 0.17 Acres |
| Opportunity Zone: | No |
| Price per unit: | $59,583 |
| Property Website | Click Here |
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