The Austin Portfolio Multi-Family FOR SALE


Chicago, IL - Austin
$3,300,000 USD
773-293-5086
, Chicago, IL for Sale
$3,300,000 USD
Multi-Family - FOR SALE
1/8
null | 8.9% Cap Rate

The Austin Portfolio
Chicago, IL
Austin


HIGHLIGHTS

  • Total Gut-Renovations
  • Desirable Unit Mix: Seventeen (17) 2bd/1ba & Nine (9) 3bd/1ba
  • New Individual Furnaces | New Appliances
  • Copper Plumbing | New Hot Water Tanks | Updated Masonry, Tuckpointing, Roofs
  • New Finishes in All Kitchens/Bathrooms
  • Hardwood Flooring Throughout

OVERVIEW

Kiser Group is pleased to exclusively present for purchase the Austin Portfolio, a condo-quality, turnkey, 26-unit portfolio in the Austin neighborhood. The two buildings sit on a quiet tree-lined street just one (1) block from Austin Blvd and the CTA Green Line "EL" Austin station. The buildings have an incredibly desirable unit composition and consist of thirteen (13) units each, yielding a mix of seventeen (17) 2BD/1BA & nine (9) 3BD/1BA apartments, all of which feature hardwood flooring throughout. Both buildings have undergone complete gut renovations throughout 2023-2025. Recent improvements to the buildings consist of but are not limited to: new individual furnaces in-unit, new appliances, new roofs, copper plumbing, new hot water tanks, an abundance of masonry and tuckpointing, and top-of-the-line cosmetic finishes to the units. A new investor in the Austin Portfolio will have the rare opportunity to obtain two newly renovated, stabilized, cash-flowing buildings in a rapidly appreciating market. From day one, a new owner will realize a cap rate of nearly 9% and returns exceeding 12%. By bringing rents to levels already achieved in the buildings, a new investor will realize a cap rate over 10% and returns of 17.6%

ASK ABOUT THIS PROPERTY

Jack PetrandoKiser GroupMore Info
773-293-5086

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Jack PetrandoKiser GroupMore Info
773-293-5086

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.