1619 South Komensky Avenue
- Newly Remodeled with Updated Kitchens & Bathrooms
- Hardwood Flooring Throughout
- In-Unit Furnaces
- New Porches (2019)
- New Windows (~50%)
- 9.03% In-Place Cap Rate
Property Description
Kiser Group is pleased to exclusively offer for purchase the sale of 1621 S. Komensky, a thirteen (13) unit walk-up located in Chicago’s historic Lawndale neighborhood. The property conveniently sits just one block from Pulaski Rd and 16th St., which provides tenants with an abundance of public transit and retail options. Furthermore, the property is just three (3) blocks to Chicago's Pink Line, "El" train station at Pulaski, which provides tenants a quick and easy commute to Chicago's downtown. 1621 S. Komensky is comprised of two (2) 3bd/1ba units, four (2) 2bd/1ba units, and seven (7) 1bd/1ba units. All of which, however, are incredibly spacious and feature hardwood flooring throughout. Recent capital improvements to the building consist of, but are not limited to: new windows (roughly 50%), new porches (2019), in-unit furnaces, a newer water heater (2017), newly remodeled units, and updated copper plumbing. 1621 S. Komensky presents an investor with a unique opportunity to acquire a stabilized, cash-flowing asset with a significant value-add play. From day one, an investor will realize a cap rate of 9.03%. Through improved leasing & management and raising rents to levels already being achieved in the building, an investor has the opportunity to achieve a cap rate of 9.91% and above, and a cash return of 21.39%.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,100,000 |
| No. of Units: | 13 |
| Opportunity Zone: | No |
| Price per unit: | $84,615 |
| Property Website | Click Here |
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