Four Stabilized Six-Flat Apartment Buildings in Kenwood
The Details
- Four 6-flat apartment buildings
- 10 four bedroom apartments
- 14 three bedroom apartments
- Six parking spaces
- Large apartments with separate living and dining rooms
- Many long-term tenants
- Stabilized buildings solid income
- Full basements with laundry
- All buildings updated electric, plumbing and furnaces in 2007
- Portfolio NOI: $226,066
- Portfolio Cap Rate: 6.85%
- Zoning: RM-5
Four six-flat apartment buildings are available for sale as a portfolio. The buildings feature 10 four bedroom apartments and 14 three bedroom units, all of which are spacious vintage units with separate living and dining rooms. Many of the units are leased to long-term tenants; all four buildings are stabilized with solid-in place income. Each of the buildings was updated in 2007 with new electrical and plumbing systems as well as new furnaces. Each building has a full basement with a laundry facility. These buildings are a great investment opportunity, generating more than $225,000 in net income.
Located close to Lake Michigan, Kenwood is one of the most desirable neighborhoods on the south side of Chicago. This neighborhood features great parks, access to the Metra and CTA, as well as shopping and restaurants.