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7924 S Rhodes Ave 6 Unit Apartment Building $745,867 CAD ($124,311 CAD/Unit) 10.30% Cap Rate Chicago, IL 60619
Investment Highlights
- Three (3) 2Bd/1Ba & Three (3) 1Bd/1Ba Units
- Ability to Significantly Increase Rents
- All Six (6) Units are Convertible
- Prime Chatham Location
Executive Summary
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%.
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%.
Property Facts
| Price | $745,867 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $124,311 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 10.30% | Building Size | 7,026 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 | ||
| Price | $745,867 CAD |
| Price Per Unit | $124,311 CAD |
| Sale Type | Investment |
| Cap Rate | 10.30% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 7,026 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 650 |
| 2+1 | 3 | - | 750 |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-34-202-021-0000 | Improvements Assessment | $36,035 CAD |
| Land Assessment | $5,946 CAD | Total Assessment | $41,980 CAD |
Property Taxes
Parcel Number
20-34-202-021-0000
Land Assessment
$5,946 CAD
Improvements Assessment
$36,035 CAD
Total Assessment
$41,980 CAD
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7924 S Rhodes Ave
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