6348 S Ada St - Apartments FOR SALE


Chicago, IL 60636- Englewood
$975,000 USD
773-293-5090
6348 S Ada St, Chicago, IL for Sale
$975,000 USD
Apartments - FOR SALE
1/5
null | 10.08% Cap Rate

6348 S Ada St
Chicago, IL 60636
Englewood


HIGHLIGHTS

  • Eight (8) 2Bd/1Ba & Five (5) 1Bd/1Ba
  • Brand New Peerless Boiler (2023)
  • Seven (7) Recently Renovated Units
  • Value-Add Opportunity
  • Significant Rental Upside

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase 6348 S. Ada, a thirteen (13) unit walk-up in the West Englewood neighborhood of Chicago's South Side. The building sits directly across from Ogden Park - a 60 acre space which boasts a pool, basketball and tennis courts, baseball diamond and a playground. Additionally, the building is ideally situated just four (4) blocks away from Ashland/63rd 'El' train station. 6348 S. Ada is comprised of five (5) 1b/1ba units and (8) 2b/1ba units. Seven (7) of these units have been recently renovated to include updated kitchens and baths with hardwood floors throughout. Additional improvements to the building consist of, but are not limited to, a new Peerless boiler, modern 100 gallon hot water tank, and updated electric with breaker boxes in unit. 6348 S. Ada presents an investor a unique opportunity of acquiring cash flowing building with a significant value-add component. At list price, the building performs at a 9.23% cap rate. However, solely by raising current rents to market rate levels by way of steady rent increases there is an opportunity to achieve a 10.95% cap rate.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

13

PRICE/UNIT

$75,000

CAP RATE

10.08%

% 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

1911

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

R3

APN/PARCEL ID

20-20-104-022-0000

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.