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4929 S Prairie Ave 10 Unit Apartment Building $2,673,041 CAD ($267,304 CAD/Unit) 7.67% Cap Rate Chicago, IL 60615
Investment Highlights
- Six (6) 3Bd/1.5Ba, Two (2) 2Bd/1Ba, & Two (2) Unit Coach House
- Individual Furnaces & Hot Water Tanks
- Prime Bronzeville Location
- Condo Quality Finishes
- In-Unit Laundry
Executive Summary
Kiser Group is pleased to exclusively offer for purchase 4927 S. Prairie Ave, a pristine ten (10) unit walk-up tucked away in the Bronzeville neighborhood on Chicago’s South Side. The subject property is centrally located within one of Chicago’s most rapidly expanding neighborhoods and is approximately two (2) blocks from the CTA Green Line “L” station at 47th Street, offering convenient access to downtown and the surrounding areas.
4927 S. Prairie has a desirable unit mix consisting of one (1) studio, one (1) 1Bd/1Ba, two (2) 2Bd/1Ba, and six (6) 3Bd/1.5Ba units. All of which have spacious layouts and have tastefully updated kitchens and baths. Recent capital improvements include, but are not limited to: individual furnaces & water tanks, in unit laundry, copper plumbing, and newer porches.
4927 S. Prairie presents an investor with the incredible opportunity to acquire a stabilized asset in Chicago's historic Bronzeville neighborhood. With the current operation from day one, an investor will realize a 7.67% cap rate and a 7.92% cash return. By increasing rent already achieved in the area, an investor can achieve a cap rate of 9.68% and a 15.97% cash return.
4927 S. Prairie has a desirable unit mix consisting of one (1) studio, one (1) 1Bd/1Ba, two (2) 2Bd/1Ba, and six (6) 3Bd/1.5Ba units. All of which have spacious layouts and have tastefully updated kitchens and baths. Recent capital improvements include, but are not limited to: individual furnaces & water tanks, in unit laundry, copper plumbing, and newer porches.
4927 S. Prairie presents an investor with the incredible opportunity to acquire a stabilized asset in Chicago's historic Bronzeville neighborhood. With the current operation from day one, an investor will realize a 7.67% cap rate and a 7.92% cash return. By increasing rent already achieved in the area, an investor can achieve a cap rate of 9.68% and a 15.97% cash return.
Property Facts Under Contract
| Price | $2,673,041 CAD | Property Subtype | Apartment |
| Price Per Unit | $267,304 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.67% | Building Size | 11,000 SF |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1898 |
| Zoning | RM-5 | ||
| Price | $2,673,041 CAD |
| Price Per Unit | $267,304 CAD |
| Sale Type | Investment |
| Cap Rate | 7.67% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 11,000 SF |
| No. Stories | 3 |
| Year Built | 1898 |
| Zoning | RM-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 6 | - | 1,200 |
| 2+1 | 3 | - | 950 - 1,050 |
| Studios | 1 | - | 600 |
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Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 20-10-116-007-0000 | Improvements Assessment | $95,472 CAD |
| Land Assessment | $39,865 CAD | Total Assessment | $135,336 CAD |
Property Taxes
Parcel Number
20-10-116-007-0000
Land Assessment
$39,865 CAD
Improvements Assessment
$95,472 CAD
Total Assessment
$135,336 CAD
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4929 S Prairie Ave
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