7839 S Kingston Avenue
Property Description
Prime Value-Add investment opportunity in nice South Shore neighborhood. 4.95 Gross Rent Multiplier, 10.5 CAP. 12-unit m/u property, comprised of (9) 2 Bedroom/1Bath Units, and (3) 3 Bedroom/1 Bath units. Two 6-unit brick buildings, with center entrances front and back, with rear parking. Each unit with large bright living room, 2 or 3 full bedrooms, dining/family room, and separate kitchen with pantry and leading to back enclosed porch. Over half of the apartments have been completely remodeled to leverage higher market rents. New owner can complete rehab of additional units and leverage appreciation of market rents, or easily convert all remaining 2 bedrooms into 3 bedrooms. The opportunity is here to step into cash flow on day one and to also improve overall performance through leasing and management. Conveniently located a short distance from public transportation, including Metra, beautiful Lake Michigan, and surrounded by numerous grocery stores and shops. This multifamily opportunity offers immediate value-add potential from the moment of acquisition.
Broker Details
Keller Williams Chicago ONEChicago (312) 216-2422
MLS ID: 170867 State License Number: 471004140
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $950,000 |
| No. of Units: | 12 |
| Year Built: | 1929 |
| Opportunity Zone: | No |
| Price per unit: | $79,167 |
| Property Website | Click Here |
| Number of Bedrooms: | 27 |
| Number of Bathrooms: | 17 |
ID: 3yd-MREDIL-12767352
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