4317 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60653- Bronzeville
$1,475,000 USD
773-293-5090
4317 S Michigan Ave, Chicago, IL for Sale
$1,475,000 USD
Apartments - FOR SALE
1/5
null | 9.09% Cap Rate

4317 S Michigan Ave
Chicago, IL 60653
Bronzeville


HIGHLIGHTS

  • Six (6) 1Bd/1Ba & Six (6) 2Bd/1Ba
  • Modern Peerless Boiler w/ R&D Controls
  • 600 Amp Electric Service
  • Prime Bronzeville Location

OVERVIEW

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%.

FOR SALE DETAILS

PRICE

$1,475,000 USD

PRICE/SF

$183 USD /SF

# OF UNITS

12

PRICE/UNIT

$122,917

CAP RATE

9.09%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1902

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

RM-5

APN/PARCEL ID

20-03-302-002-0000

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.