4627 S Drexel Blvd - Apartments FOR SALE


Chicago, IL 60653- Kenwood
$8,675,000 USD
773-293-5090
4627 S Drexel Blvd, Chicago, IL for Sale
$8,675,000 USD
Apartments - FOR SALE
1/4
null | 7.5% Cap Rate

4627 S Drexel Blvd
Chicago, IL 60653
Kenwood


HIGHLIGHTS

  • Enormous Unit Layouts With Condo Quality Finishes
  • Individual HVAC, Laundry, Hot Water Storage Tanks and Dishwashers in All Units
  • 100% Occupied by CHA Housing Choice Voucher Tenants
  • Walking Distance to Abundant Retail, Public Transportation, University of Chicago

OVERVIEW

Kiser Group is pleased to exclusively present for purchase 4627 S. Drexel, a thirty-five (35) unit building located on a quiet, tree-lined street amongst a variety of single-family townhomes. Situated in a premier location in Chicago's historic North Kenwood neighborhood, the asset is ideally located just blocks away from Lake Michigan, Williams-Davis Park, providing easy access to S. Lake Shore Dr. and Chicago's downtown. 4627 S. Drexel boasts a desirable unit mix, comprised of three (3) 1Bd/1Ba, three (3) 2Bd/1Ba units, four (4) 2Bd/2Ba, and twenty-five (25) 3Bd/2Ba units. All of which are incredibly spacious and have gone through extensive renovations. Typical units include, but are not limited to, hardwood floors, stainless steel appliances, and individual laundry units as well as furnaces. 4627 S. Drexel provides investors with the unique opportunity to obtain a stabilized, cash-flowing asset in one of Chicago's most rapidly appreciating neighborhoods. From day one, an investor will realize an in-place cap rate of 8% and a cash return of 9.87%

FOR SALE DETAILS

PRICE

$8,675,000 USD

PRICE/SF

$159 USD /SF

# OF UNITS

35

PRICE/UNIT

$247,857

CAP RATE

7.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1929

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,362 SF

ZONING

RM-5

APN/PARCEL ID

20-02-316-036-0000

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.