22 Units | 11.45% Cap Rate 8000 S Ashland Ave 22 Unit Apartment Building $1,779,798 CAD ($80,900 CAD/Unit) 11.45% Cap Rate Chicago, IL 60620

Kiser Group is pleased to exclusively offer for purchase the sale of 8000 S. Ashland Ave, a twenty-two (22) unit building in Chicago’s Auburn Gresham Neighborhood. The subject property is conveniently situated directly east of the Dan Ryan Woods, providing tenants with easy access to walk to and enjoy the city park. Additionally, the property sits just a short drive from the Kennedy Expressway, providing quick and easy access to Chicago’s downtown.
8000 S. Ashland Ave has a unit mix consisting of eleven (11) studios, five (5) 1Bd/1Ba, & six (6) retail units. The building is meticulously maintained with all the interior units offering favorable layouts and hardwood flooring throughout. Recent capex updates include but are not limited to: 2017 boiler installation (with R&D control system), newer hot water tank (2021), 100% copper plumbing, & updated 800 AMP electrical service.
8000 S. Ashland presents an investor an unique opportunity to acquire a strong, positive cash-flowing building in an incredibly desirable pocket of Auburn Gresham. From day one, an investor will realize an in-place cap rate of 11.45% along with an equally impressive double-digit cash return of 23.28%. Furthermore, solely by increasing rents to rents that are already being achieved in the area, there is an opportunity to achieve a 16% cap rate.