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7800 South Coles Avenue

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Address: 7800 S Coles Ave, Chicago, IL 60649, USA

Chicago & Midwest + Apartment Buildings

Created date: February 29, 2024

Date last updated: September 26, 2024

Completely Gut Renovated
Six (6) 2Bd/1Ba & Five (5) 1Bd/1Ba
In-Unit Furnaces & Copper Plumbing
Updated Porches & Roof
Desirable South Shore Location
Blocks from Lake Michigan

Property Description

Kiser Group is pleased to exclusively present for purchase 7800 S. Coles a beautiful eleven (11) California-style building located in Chicago's historic South Shore Neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes. 7800 S. Coles is comprised of five (5) 1b/1ba and six (6) 2bd/1ba. The units all feature hardwood flooring throughout and updated LVP flooring where necessary. Furthermore, additional improvements to the building consist of but are not limited to, in-unit HVAC, all copper plumbing, an updated roof, laundry access for tenants, and a paved parking lot in the rear. 7800 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.48%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$1,089,000
No. of Units:	11
Year Built:	1962
Opportunity Zone:	No
Price per unit:	$99,000
Property Website	Click Here