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7400 S. Artesian Avenue

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Address: 7400 S Artesian Ave, Chicago, IL 60629, USA

Chicago & Midwest + Apartment Buildings

Created date: August 28, 2024

Date last updated: November 2, 2024

In-Place Cap Rate of 8.41%
Newer Boiler (2022) & Windows
In-Unit Breakers
Well-Maintained Exterior (Masonry, Porches)
Twelve (12) On-Site Parking Spots
Significant Rental Upside
Quiet Neighborhood Surrounded by Single Family Homes

Property Description

Kiser Group is pleased to exclusively offer for purchase 7400 S. Artesian Ave, a ten (10) unit property in Chicago’s Marquette Park Neighborhood. The building is comprised of comprised of six (6) 1Bd/1Ba and four (4) 2Bd/1Ba units. The property is ideally situated in a residential pocket close to popular retail attractions off of Western Ave. Plus, nearby bus stations provide tenants quick and easy transit around Chicago’s Southwest Neighborhoods. 7400 S. Artesian Ave has seen multiple capex improvements under current ownership. Newer windows and well-maintained porches give the building a solid exterior appearance. Additionally, there are 12 on-site parking spots. On the interior, there is a new boiler and in-unit breakers. Overall, the building is extremely clean and well-maintained, providing current tenants with an ideal living situation. 7900 S. Sacramento Ave presents an investor with a rare opportunity to acquire a well-maintained building with attainable market rents. Through improved leasing and raising rents accordingly, a new owner could reach a cap rate of 12.61% and a cash return almost 28%.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$700,000
No. of Units:	10
Opportunity Zone:	No
Price per unit:	$70,000
Property Website	Click Here