10212-10214 King Dr, Chicago, IL 60628
12 Unit Apartment Building | $1,100,000 ($91,667/Unit) | 9.08% Cap Rate | Chicago, IL 60628
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,100,000
- Property Type
-
Multifamily
- Square Feet
- 7,200 SF
Listing Contacts
Noah Birk
Verified Profile
Aaron Sklar
Verified Profile
- Property Info
Property Overview
Kiser Group is pleased to exclusively present for purchase 10212 S. King, a twelve (12) unit courtyard building located in Chicago's historic Rosemoor neighborhood. Nestled amongst an abundance of single-family homes, and across the street from St. John De LaSalle Catholic School, this property offers easy access to local amenities, public transportation, and friendly community living.
10212 S. King is currently comprised of five (5) 1BD/1BA, six (6) 2BD/1BA, and one (1) 3BD/1BA units, with the first-floor 3BD/1BA recently converted into a spacious duplex-down unit. Recent improvements to the building include, but are not limited to, updated porches, copper plumbing, individual furnaces & hot water tanks, and central air conditioning in five (5) of the twelve (12) units. Furthermore, the building include six (6) garage spots in the rear. Current ownership is presently not capitalizing on the garage.
10212 S. King presents an investor with the unique opportunity to acquire a stabilized, positive cash flowing asset with an in-place cap rate of just over 9%. Through raising rents to figures already being achieved in the building, there is an opportunity to gain a cap rate north of 11% and a cash on cash return of just under 23%.
10212 S. King is currently comprised of five (5) 1BD/1BA, six (6) 2BD/1BA, and one (1) 3BD/1BA units, with the first-floor 3BD/1BA recently converted into a spacious duplex-down unit. Recent improvements to the building include, but are not limited to, updated porches, copper plumbing, individual furnaces & hot water tanks, and central air conditioning in five (5) of the twelve (12) units. Furthermore, the building include six (6) garage spots in the rear. Current ownership is presently not capitalizing on the garage.
10212 S. King presents an investor with the unique opportunity to acquire a stabilized, positive cash flowing asset with an in-place cap rate of just over 9%. Through raising rents to figures already being achieved in the building, there is an opportunity to gain a cap rate north of 11% and a cash on cash return of just under 23%.
Property Details
- Class
- C
- Year Built
- 1922
- Stories
- 3
- Lot Size (sq. ft)
- 9,148 SF
- Units
- 12
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