Kiser Group is pleased to exclusively present for purchase 4859 S. Champlain Ave, a historic eighteen (18) unit apartment building in Chicago's Bronzeville neighborhood. Renters are attracted to its proximity to the abundance of shopping and retail that Hyde Park and Kenwood have to offer. It is also located in a designated opportunity zone providing tax incentives for qualified investors.
4859 S. Champlain has an incredibly desirable unit mix comprised of sixteen (16) 2Bd/1Ba and two (2) 3Bd/1Ba units. Units feature spacious layouts with separate living & dining rooms, updated kitchens & baths, private balconies, and hardwood floors throughout Additionally, recent improvements to the building consist of, but are not limited to, updated & code-compliant porches, significant tuckpointing & masonry work, and an onsite laundry facility.
4859 S. Champlain presents an investor with a unique opportunity to acquire a building in a booming area in one of Chicago's most desirable pockets on the South Side. From day one, a new owner will inherit an incredibly strong tenant base and achieve over an 8% cap rate. Furthermore, by raising rents to levels already being achieved in the building, an investor has the ability to the further improve the building's income and achieve a cap rate of 8.69%.