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5624 S King Dr 7 Unit Apartment Building $1,336,100 CAD ($190,871 CAD/Unit) 6.30% Cap Rate Chicago, IL 60637
Executive Summary
Interra Realty has been exclusively engaged to present for sale 5624-26 S. King Drive. Located in the fast appreciating
Washington Park submarket, the subject property is a center entrance 7 unit building featuring (4) 4 BD/2 BA, (2) 3 BD/2
BA, & (1) 2 BD/1 BA. There is (1) non conforming garden unit, a 2 story garage in the rear of the property that is rented to a
local business, and a laundry room on site for tenant convenience
There is a significant value add component through the cosmetic renovation of apartment units by upgrading the
kitchens and baths to condo quality standard and bringing rents to the top of the market
Washington Park submarket, the subject property is a center entrance 7 unit building featuring (4) 4 BD/2 BA, (2) 3 BD/2
BA, & (1) 2 BD/1 BA. There is (1) non conforming garden unit, a 2 story garage in the rear of the property that is rented to a
local business, and a laundry room on site for tenant convenience
There is a significant value add component through the cosmetic renovation of apartment units by upgrading the
kitchens and baths to condo quality standard and bringing rents to the top of the market
Property Facts
| Price | $1,336,100 CAD | Building Class | C |
| Price Per Unit | $190,871 CAD | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 8,202 SF |
| Cap Rate | 6.30% | Average Occupancy | 86% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1908 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM-5 | ||
| Price | $1,336,100 CAD |
| Price Per Unit | $190,871 CAD |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 8,202 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built | 1908 |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
Amenities
Site Amenities
- Laundry Facilities
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+2 | 2 | - | - |
| 4+2 | 4 | - | - |
Moderately walkable
70/100
Moderately drivable
70/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 20-15-112-020-0000 | Improvements Assessment | $41,468 CAD |
| Land Assessment | $41,527 CAD | Total Assessment | $82,995 CAD |
Property Taxes
Parcel Number
20-15-112-020-0000
Land Assessment
$41,527 CAD
Improvements Assessment
$41,468 CAD
Total Assessment
$82,995 CAD
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5624 S King Dr
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