Listed by Kiser Group
$11,200,000
4612 S Lake Park Ave
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 50,200
Units 48
Cap Rate 7.54%
Multifamily | 7.54% CAP | 48 Units
Marketing description
Kiser Group is pleased to exclusively present for purchase 4612 S. Lake Park Ave, a forty-eight (48) unit multifamily asset located in the heart of Chicago’s historic Kenwood neighborhood. The property is situated along the Lake Park Avenue corridor, just steps from Lake Michigan and nearby green space, while offering convenient access to S. Lake Shore Drive and Chicago’s downtown core.
4612 S. Lake Park Ave features a highly desirable unit mix comprised of thirty-seven (37) 2Bd/1Ba units and eleven (11) 3Bd/1Ba units. Units are well-maintained and spacious, offering layouts that appeal to the area’s strong renter demographic.
The asset provides investors with the opportunity to acquire a stabilized, cash-flowing property in one of Chicago’s most sought-after and appreciating South Side neighborhoods. From day one, an investor will benefit from an in-place cap rate of 7.54% and a cash return of 7.99%, with the ability to achieve a proforma cap rate of 8.68% and a 12.54% cash return through continued rent growth.
Investment highlights
- Thirty-Seven (37) 2Bd/1Ba & Eleven (11) 3Bd/2Ba Units
- High-Quality Finishes
- Individual HVAC & Hot Water Tanks
- In-Unit Laundry
- Prime Kenwood Location
- Steps Away From Lake Michigan
Listing Contacts
Listed by Kiser Group
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