Listed by Kiser Group
$1,475,000
4317 South Michigan Avenue
Details
Property Type Multifamily
Square Footage 9,600
Cap Rate 7.06%
Price per SqFt $154
Multifamily | 7.06% CAP
Marketing description
Kiser Group is pleased to exclusively offer for purchase the sale of 4317 S. Michigan Ave, a twelve (12) unit walk-up tucked away in the Bronzeville neighborhood of Chicago’s South Side. The subject site sits directly in the core of one of Chicago’s most rapidly expanding neighborhoods and is roughly a 15-minute drive to Chicago's downtown.
4317 S. Michigan consists of six (6) 1Bd/1Ba and six (6) 2Bd/1Ba units. Recent capital improvements include, but are not limited to: modern Peerless boiler with R&D control system, newer hot water tanks, updated and code compliant porches, and a 600 AMP electric service.
4317 S. Michigan presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 7.06% and a cash return of 6%. Given the quality of the units coupled with the prime location, an investor could increase the cap rate to over 7.37% and a cash return of 7.33%.
Investment highlights
- Six (6) 1Bd/1Ba & Six (6) 2Bd/1Ba
- Modern Peerless Boiler w/ R&D Controls
- 600 Amp Electric Service
- Prime Bronzeville Location
Listing Contacts
Listed by Kiser Group
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