7924 S Rhodes Ave - Apartments FOR SALE


Chicago, IL 60619- Chatham
$525,000 USD
773-293-5090
7924 S Rhodes Ave, Chicago, IL for Sale
$525,000 USD
Apartments - FOR SALE
1/5
null | 10.3% Cap Rate

7924 S Rhodes Ave
Chicago, IL 60619
Chatham


HIGHLIGHTS

  • Three (3) 2Bd/1Ba & Three (3) 1Bd/1Ba Units
  • All Six (6) Units are Convertible
  • Ability to Significantly Increase Rents
  • Prime Chatham Location

OVERVIEW

Kiser Group is pleased to present for sale 7924 S. Rhodes Avenue, a six-unit multifamily investment opportunity located in Chicago's Chatham neighborhood. The property consists of six residential units comprised of three (3) 2Bd/1 Ba apartments and three (3) 1Bd/1 Ba apartments, providing a desirable unit mix that appeals to a broad tenant base. The building features well-maintained apartments with hardwood flooring throughout, offering residents classic Chicago charm and durability while minimizing long-term maintenance costs. The property's efficient unit layouts and attractive finishes support continued tenant demand and stable occupancy. The asset delivers exceptional in-place returns, boasting a current capitalization rate of 10.30% and an impressive cash-on-cash return of 18.43%. Through strategic rent optimization and operational efficiencies, investors have the opportunity to achieve a projected pro forma capitalization rate of 11.55% and a pro forma cash-on-cash return of 23.46%.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$65 USD /SF

# OF UNITS

6

PRICE/UNIT

$87,500

CAP RATE

10.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

RT-4

APN/PARCEL ID

20-34-202-021-0000

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.