5322 W. Washington
- Fully Renovated and Stabilized Asset
- Strong Subsidized Tenant Base (13/16)
- Desirable Unit Mix: Three (3): 3bd/1ba, Ten (10): 2bd/1ba, and Three (3): 1bd/1ba Units
- New Water Heater (2026)
- Updated Plumbing w/ Copper & New Main Line to the Street
- 11.04% In-Place Cap Rate
Property Description
Kiser Group is pleased to exclusively present for purchase 5322 W. Washington, a sixteen (16) unit walkup located in Chicago's historic Austin neighborhood. The building is conveniently situated roughly three (3) blocks from the CTA Laramie Green Line station and less than a mile from Interstate 290, offering immediate access to downtown Chicago. Additionally, the property is located roughly four (4) blocks from the sizable Columbus Park that contains fields, pools, and a golf course. 5322 W. Washington has an incredibly desirable unit composition and is currently comprised of three (3) 3Bd/1Ba units, nine (9) 2Bd/1Ba units, and three (3) 1Bd/1Ba units, all of which are newly renovated. The building underwent an extensive renovation throughout 2025-2026. During 5322 W. Washington's renovation, capital improvements consist of, but are not limited to: New Water Heater, Roof Updates, New Windows, New Stainless Steel Appliances, New In-Unit Furnaces, New Copper Plumbing including a New Main Line to the Street, and Updated Finishes in the Kitchens and Bathrooms. From day one, a new investor will realize an in-place cap rate of 10.29% and cash returns exceeding 18%. Through improved leasing and raising rents to levels already being achieved in the building, a new investor will be able to realize a cap rate of 11.71% and cash returns over 24%. With recent renovations complete and a fully subsidized tenant base in place, the property provides a strong foundation for long-term ownership and operational success.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,050,000 |
| No. of Units: | 16 |
| Opportunity Zone: | No |
| Price per unit: | $128,125 |
| Property Website | Click Here |
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