Listed by Kiser Group
$3,750,000
5944 W. Roosevelt Rd & 1054 S
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 46,572
Units 38
Cap Rate 9.61%
Price per SqFt $81
Year Built 1925
Multifamily | 9.61% CAP | 38 Units
Marketing description
Kiser Group is pleased to exclusively offer for purchase the sale of 5944 W. Roosevelt, a thirty-eight (38) unit mixed use property and 1054 S, Mason, a twelve (12) unit walkup located in Chicago’s West Side's most desirable pocket, "The Island". The properties sit just a few blocks from Chicago's Blue Line "El" train station at Austin as well as Columbus Park, which features ball fields, a theater, a pool & golf course.
5944 W. Roosevelt & 1054 S, Mason have a total unit composition of sixteen (16) 2Bd/1Ba, nineteen (19) 1Bd/1Ba, eight (8) studios, & seven (7) retail units. Furthermore, the building boasts newer windows, individual furnaces, individual hot water heaters & storage tanks, new porches, and an abundance of masonry and tuckpointing work.
5944 W. Roosevelt & 1054 S, Mason provides an investor with a unique opportunity to acquire a stabilized and strong cash-flowing asset in Chicago’s desirable pocket of The Island. From day one, a new owner will capitalize on an incredibly strong tenant base and will realize an in-place cap rate of 9.61% and a cash return of 15.70%. Through improved leasing, management, and raising rents to levels already being achieved in the area, an investor has the opportunity to achieve a cap rate over 13%.
Investment highlights
- Rarely available 50 units in The Island
- Sixteen (16) 2Bd/1Ba, Nineteen (19) 1Bd/1Ba, Eight (8) Studios, & Seven (7) Retail
- Newer Individual Furnaces & Hot Water Tanks
- New Porches (2023-2024)
- Newer Electric
- Updated Copper Plumbing
Listing Contacts
Listed by Kiser Group
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