7924 S. Rhodes Ave
- Three (3) 2Bd/1Ba & Three (3) 1Bd/1Ba Units
- All Six (6) Units are Convertible
- Ability to Significantly Increase Rents
- Prime Chatham Location
Property Description
Kiser Group is pleased to present for sale 7924 S. Rhodes Avenue, a six-unit multifamily investment opportunity located in Chicago's Chatham neighborhood. The property consists of six residential units comprised of three (3) 2Bd/1 Ba apartments and three (3) 1Bd/1 Ba apartments, providing a desirable unit mix that appeals to a broad tenant base. The building features well-maintained apartments with hardwood flooring throughout, offering residents classic Chicago charm and durability while minimizing long-term maintenance costs. The property's efficient unit layouts and attractive finishes support continued tenant demand and stable occupancy. The asset delivers exceptional in-place returns, boasting a current capitalization rate of 10.30% and an impressive cash-on-cash return of 18.43%. Through strategic rent optimization and operational efficiencies, investors have the opportunity to achieve a projected pro forma capitalization rate of 11.55% and a pro forma cash-on-cash return of 23.46%.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $525,000 |
| No. of Units: | 6 |
| Year Built: | 1925 |
| Lot Size: | 0.13 Acres |
| Opportunity Zone: | No |
| Price per unit: | $87,500 |
| Property Website | Click Here |
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