655 E 90th Pl - Apartments FOR SALE


Chicago, IL 60619- Burnside
$835,000 USD
773-293-5090
655 E 90th Pl, Chicago, IL for Sale
$835,000 USD
Apartments - FOR SALE
1/5
null | 10.03% Cap Rate

655 E 90th Pl
Chicago, IL 60619
Burnside


HIGHLIGHTS

  • Three (3) 3Bd/1Ba & Seven (7) 2Bd/1Ba Units
  • Modern Kitchens & Baths
  • Complete Tear Off Roof (2021)
  • Individually Furnaced

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase the sale of 9036 S. Langley, a meticulously maintained and professionally managed ten (10) unit property, located in the desirable Burnside community of Chicago’s South Side. Nestled amongst an abundance of single family homes, the building sits on a quiet tree lined street just one (1) block away from Tuley Park, a community recreational center featuring a gym, auditorium, basketball courts, as well as ten lighted tennis courts. The building also sits just one block West of Cottage Grove’s commercial corridor featuring an assortment of retail and grocery options. 9036 S. Langley has an incredibly desirable unit mix comprised solely of two and three bedroom apartment units. Currently, the building consists of three (3) 3b/1ba apartments, and seven (7) 2b/1ba apartment. All of which are incredibly spacious and feature an abundance of natural light. Furthermore, the units are all equipped modern kitchens with newer cabinetry and appliances and updated bathrooms. Additionally, all of the units boast resurfaced hardwood flooring throughout. Recent capital improvements to the building consist of, but not limited to, a new roof (2021) along with new gutters, an updated and code compliant porch system, updated plumbing and electric, and individual in-unit furnaces. 9036 S. Langley presents an investor with the unique opportunity to acquire a stabilized, cash flowing asset. From day one, an investor will realize an in place cap rate of 10.03% and a cash return of 18.5%. Furthermore, by increasing rents to levels already being achieved in the building and surrounding area, an investor has the ability to achieve a cap rate over 13% and a cash return of nearly 32%

FOR SALE DETAILS

PRICE

$835,000 USD

PRICE/SF

$81 USD /SF

# OF UNITS

10

PRICE/UNIT

$83,500

CAP RATE

10.03%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

R-2, Chicago

APN/PARCEL ID

25-03-230-022-0000

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.