6618 S Kenwood Ave - Apartments FOR SALE


Chicago, IL 60637- Woodlawn
$6,950,000 USD
773-293-5090
6618 S Kenwood Ave, Chicago, IL for Sale
$6,950,000 USD
Apartments - FOR SALE
1/5
null | 7.52% Cap Rate

6618 S Kenwood Ave
Chicago, IL 60637
Woodlawn


HIGHLIGHTS

  • Complete Gut Rehab
  • Assumable Debt at 3.775% Interest Rate
  • Rarely Available Courtyard
  • Prime East Woodlawn Location

OVERVIEW

Kiser group is pleased to exclusively present for purchase 6610 S. Kenwood, a rarely available thirty-five (35) unit, center entrance courtyard in Chicago’s East Woodlawn neighborhood. The property sits directly South of Hyde Park and is just blocks away from the prestigious University of Chicago. Additionally, the asset is just blocks from the developing site of the Obama Presidential Library. Sitting on a premier block, 6610 S. Kenwood is uniquely comprised of thirty-five (35) total units, all of which are incredibly spacious and feature an abundance of condo-quality upgrades. The unit mix is currently made up of fourteen (14) 3Bd/2Ba, one (1) 2Bd/2.5Ba, seventeen (17) 2Bd/2Ba, one (1) 2Bd/1.5Ba, and two (2) 1Bd/1.5Ba units. Units feature an open floorplan with hardwood flooring throughout, high-end kitchens with granite countertops and stainless steel appliances, and modern bathrooms with custom finishes. Additional improvements to the building include, but are not limited to: 100% copper plumbing, updated porches, individual HVAC & hot water tanks, and in-unit washer/dryers. 6610 S. Kenwood presents an investor the opportunity to acquire a rarely available courtyard building in one of Chicago’s fastest growing and rapidly expanding neighborhoods. Additionally, this opportunity presents immediate scale, and an investor will realize a positive, cash flowing asset from day one. ASSUMABLE FINANCING: Buyer has the option to assume the current loan, approximate terms are: - $6,562,000 - 3.775% Fixed until June 30, 2031

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$252 USD /SF

# OF UNITS

35

PRICE/UNIT

$198,571

CAP RATE

7.52%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1924

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,509 SF

ZONING

RM-5

APN/PARCEL ID

20-23-223-049-0000

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.