1143 South Saint Louis Avenue

• Desirable Unit Mix: Three (3) 3BD/1BA & Three (3) 2BD/1BA
• 10% In-Place Cap Rate
• In-Unit Furnaces
• In-Unit Water Heaters
• Updated Copper Plumbing
• Renovated Kitchens & Baths

Property Description

Kiser Group is pleased to exclusively present for purchase 1143 S. Saint Louis Ave, a six (6) unit walk up building in the hearth of Chicago's North Lawndale neighborhood. The building is located just a few blocks West of Douglass Park and one block North of an abundance of bust stops, restaurants, and shops along Roosevelt Rd. 1143 S. Saint Louis presents a desirable unit mix of three (3) 3BD/1BA and three (3) 2BD/1BA units. Each unit is equipped with its own individual water heater and furnace that were installed in 2017. Recent improvements to the building include but are not limited to: copper plumbing, newer electric servicing, updated LVP flooring, renovated kitchens and baths with newer appliances and fixtures. 1143 S. Saint Louis presents investors with an opportunity to obtain a fully-occupied, stabilized asset in a rapidly appreciating market. From day one, a new owner will realize a cap rate of 10% and cash returns exceeding 16%. Simply by raising rents to rates already being attained throughout the building, a new owner can realize a cap rate of nearly 12% and cash returns approaching 24%.