3603-3609 S King Dr - Apartments FOR SALE


Chicago, IL 60653- Bronzeville
$4,150,000 USD
773-293-5090
3603-3609 S King Dr, Chicago, IL for Sale
$4,150,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

3603-3609 S King Dr
Chicago, IL 60653
Bronzeville


HIGHLIGHTS

  • Eighteen (18) 2Bd/1Ba & Six (6) 3Bd/1Ba Units
  • Updated Units w/ Modern Kitchens & Baths & In-Unit Laundry
  • New Boiler (2025) w/ R&D Control System
  • Prime Bronzeville Location

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase 3603 S. King Dr., a well-maintained twenty-four (24) unit multifamily asset located in the highly sought-after Bronzeville neighborhood of Chicago’s South Side. The property sits along the historic King Drive corridor and is just minutes from downtown Chicago, providing convenient access to public transportation, retail, and major employment hubs. 3603 S. King features an attractive unit mix consisting of six (6) 3Bd/1Ba units and eighteen (18) 2Bd/1Ba units. The units offer spacious layouts, and each unit is equipped with individual laundry, modern kitchens and bathrooms, enhancing tenant convenience and retention. Recent capital improvements include a new boiler installed in 2025, contributing to the overall efficiency and reliability of the building. The property presents a compelling investment opportunity with an in-place cap rate of 7.58% and a current cash-on-cash return of 8.15%. Through continued management and strategic rent increases, an investor has the opportunity to achieve a projected cap rate of 9.15% and a cash return of 14.45%. With strong in-place income in a rapidly appreciating neighborhood, 3603 S. King offers a stable, cash-flowing asset with meaningful upside.

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$188 USD /SF

# OF UNITS

24

PRICE/UNIT

$172,917

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

R

APN/PARCEL ID

17-34-400-022-0000,17-34-400-023-0000

ASK ABOUT THIS PROPERTY

Noah BirkKiser GroupMore Info
773-293-5090

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Noah BirkKiser GroupMore Info
773-293-5090

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.