1524 W Garfield Blvd
Property Description
Kiser Group is pleased to exclusively present for purchase 1524 W. Garfield Blvd, an eight (8) unit multifamily property located in Chicago’s Englewood neighborhood. The property sits along Garfield Boulevard with convenient access to public transportation and major thoroughfares, providing residents with connectivity throughout the South Side and into downtown Chicago. The location is also near neighborhood retail, parks, schools, and other everyday amenities, while offering investors exposure to an area that continues to see investment and redevelopment. 1524 W. Garfield Blvd is comprised of eight (8) residential units in a well-maintained brick building. The unit mix consists of four (4) 2Bd/1Ba units, three (3) 3Bd/2Ba units, and one (1) 4Bd/2Ba unit. The property offers investors an opportunity to acquire a manageable multifamily asset with an attractive unit count and established operations. With the building already producing strong in-place income, a new owner can benefit from immediate cash flow while maintaining the opportunity to further improve operations and increase rental income over time. The property is being offered for sale at $750,000, equating to approximately $93,750 per unit. At the asking price, the property generates an in-place NOI of $75,156, resulting in an attractive 10.02% cap rate and $32,491 annual cash return. With projected NOI of $83,456, investors have the opportunity to increase returns to an approximately 11.13% pro forma cap rate and $40,791 pro forma annual cash return.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $750,000 |
| No. of Units: | 8 |
| Year Built: | 1914 |
| Lot Size: | 0.10 Acres |
| Opportunity Zone: | No |
| Price per unit: | $93,750 |
| Property Website | Click Here |
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