4915 S Drexel Blvd
- Premier Kenwood/Hyde Park Location
- Significant Government-Backed Rental Income
- Attractive 9% In-Place Cap Rate
- Stabilized Asset with Embedded Upside
Property Description
Essex Realty Group, LLC has been exclusively engaged to market for sale 4915 S. Drexel Boulevard, a 31-unit multifamily investment opportunity prominently located along historic Drexel Boulevard in Chicago's highly desirable Kenwood neighborhood. The Property features a balanced unit mix consisting of (8) one-bedroom, (16) two-bedroom, and (7) three-bedroom apartments, offering broad tenant appeal and long-term leasing stability. The offering presents investors with the opportunity to acquire a stabilized, cash-flowing asset that has undergone a remarkable operational transformation under current ownership, resulting in significant income growth while preserving meaningful upside through continued asset management. Since acquiring the property, ownership has successfully executed a comprehensive value-add strategy, increasing annual rental income by more than 63% during the first full year of ownership. Through strategic renovations, operational improvements, and a thoughtful leasing strategy, ownership has transformed the property's financial performance by creating a durable income stream supported by a significant concentration of government-backed rental income, providing investors with enhanced cash flow stability, reduced collection risk, and continued operational upside. The Property offers investors the rare opportunity to acquire a fully stabilized asset where the operational heavy lifting has already been completed. Unlike traditional value-add opportunities requiring significant execution risk, 4915 S. Drexel Boulevard provides immediate, durable cash flow while maintaining the potential for continued revenue growth through active asset management. The Property is being offered at an attractive in-place cap rate of approximately 8.78%, presenting investors with an opportunity to acquire a high-performing multifamily asset in one of Chicago's most established and sought-after neighborhoods.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $5,300,000 |
| No. of Units: | 31 |
| Year Built: | 1926 |
| Lot Size: | 0.23 Acres |
| Opportunity Zone: | No |
| Price per unit: | $170,968 |
| Property Website | Click Here |
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