Listed by Kiser Group
$8,675,000
4627 S. Drexel Blvd
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 42,300
Units 35
Cap Rate 8.00%
Multifamily | 8.00% CAP | 35 Units
Marketing description
Kiser Group is pleased to exclusively present for purchase 4627 S. Drexel, a thirty-five (35) unit building located on a quiet, tree-lined street amongst a variety of single-family townhomes. Situated in a premier location in Chicago's historic North Kenwood neighborhood, the asset is ideally located just blocks away from Lake Michigan, Williams-Davis Park, providing easy access to S. Lake Shore Dr. and Chicago's downtown.
4627 S. Drexel boasts a desirable unit mix, comprised of three (3) 1Bd/1Ba, three (3) 2Bd/1Ba units, four (4) 2Bd/2Ba, and twenty-five (25) 3Bd/2Ba units. All of which are incredibly spacious and have gone through extensive renovations. Typical units include, but are not limited to, hardwood floors, stainless steel appliances, and individual laundry units as well as furnaces.
4627 S. Drexel provides investors with the unique opportunity to obtain a stabilized, cash-flowing asset in one of Chicago's most rapidly appreciating neighborhoods. From day one, an investor will realize an in-place cap rate of 8% and a cash return of 9.87%.
Investment highlights
- Twenty-Five (25) 3Bd/2Ba, Four (4) 2Bd/2Ba, Three (3) 2Bd/1Ba, & Three (3) 1Bd/1Ba
- Condo Quality Finishes
- Individual HVAC & Hot Water Tanks
- In-Unit Laundry
- Prime Kenwood Location
Listing Contacts
Listed by Kiser Group
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