4320 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60653- Bronzeville
$2,000,000 USD
773-293-5090
4320 S Michigan Ave, Chicago, IL for Sale
$2,000,000 USD
Apartments - FOR SALE
1/5
null | 9.12% Cap Rate

4320 S Michigan Ave
Chicago, IL 60653
Bronzeville


HIGHLIGHTS

  • Two (2) 4Bd/3Ba, Six (6) 3Bd/2Ba, Two (2) 2Bd/1Ba, & One (1) 1Bd/Ba
  • Prime Bronzeville Location
  • 9.34% Cap Rate
  • Assumable Debt at 4.43% Interest Rate
  • Gut Renovated Building

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase the sale of 4320 S. Michigan Ave, a pristine six (11) 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. 4320 S. Michigan has a desirable unit mix consisting of two (2) 4Bd/3Ba, six (6) 3Bd/2Ba, two (2) 2Bd/1Ba, and one (1) 1Bd/1ba unit. All of the units have spacious layouts and have been extensively renovated. Recent capital improvements include, but are not limited to: individual furnaces, in-unit hot water tanks, in-unit laundry, copper plumbing, new electric system, and renovated kitchen and baths w/ dishwashers & stainless steel appliances. 4320 S. Michigan presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.34% and a cash return of 15.78%. Given the quality of the units coupled with the prime location, an investor could increase the cap rate to over 10.18% and a cash return of 19.14%. ASSUMABLE DEBT: 4.43% Interest Rate $1,284,164.68 Remaining

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$169 USD /SF

# OF UNITS

11

PRICE/UNIT

$181,818

CAP RATE

9.12%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,625 SF

ZONING

RM-5

APN/PARCEL ID

20-03-301-016-0000

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 Policy.