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8058 S Hermitage Ave 19 Unit Apartment Building $1,954,288 CAD ($102,857 CAD/Unit) 10.23% Cap Rate Chicago, IL 60620
INVESTMENT HIGHLIGHTS
- Six (6) 2Bd/1Ba, Ten (10) 1Bd/1Ba, and Three (3) Studios
- Prime Auburn Gresham Location
- On-Site Laundry Facility
- 10.23% Cap Rate
- New Peerless Boiler (2024)
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively offer for purchase 8058 S. Hermitage Ave, a nineteen (19) unit building located in the historic Auburn Gresham neighborhood of Chicago’s South Side. The property is ideally situated near Foster Park as well as numerous public transportation options, including both the 79th St. and Ashland Ave. bus lines.
8058 S. Hermitage is comprised of six (6) 2Bd/1Ba, ten (10) 1Bd/1Ba, and three (3) studios, all of which feature modern kitchens and baths. Recent capital improvements to the building include, but are not limited to, a new Peerless Boiler (2024), new hot water tanks (2022), a complete tear-off roof (2020), and an on-site laundry facility.
8058 S. Hermitage presents an investor with the opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Auburn Gresham neighborhood. From day one, a new operator will realize a cap rate of 10.23% and a cash return over 18%. Furthermore, through improved leasing and raising rents to current market rates, an investor could achieve a cap rate of nearly 12% and cash return over 24%.
8058 S. Hermitage is comprised of six (6) 2Bd/1Ba, ten (10) 1Bd/1Ba, and three (3) studios, all of which feature modern kitchens and baths. Recent capital improvements to the building include, but are not limited to, a new Peerless Boiler (2024), new hot water tanks (2022), a complete tear-off roof (2020), and an on-site laundry facility.
8058 S. Hermitage presents an investor with the opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Auburn Gresham neighborhood. From day one, a new operator will realize a cap rate of 10.23% and a cash return over 18%. Furthermore, through improved leasing and raising rents to current market rates, an investor could achieve a cap rate of nearly 12% and cash return over 24%.
PROPERTY FACTS
| Price | $1,954,288 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $102,857 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 10.23% | Building Size | 15,609 SF |
| No. Units | 19 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R4, Chicago | ||
| Price | $1,954,288 CAD |
| Price Per Unit | $102,857 CAD |
| Sale Type | Investment |
| Cap Rate | 10.23% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 15,609 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | R4, Chicago |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | 500 |
| 1+1 | 10 | - | 650 |
| 2+1 | 6 | - | 800 |
1 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 20-31-212-035-0000 | Improvements Assessment | $143,518 CAD |
| Land Assessment | $10,334 CAD | Total Assessment | $153,852 CAD |
PROPERTY TAXES
Parcel Number
20-31-212-035-0000
Land Assessment
$10,334 CAD
Improvements Assessment
$143,518 CAD
Total Assessment
$153,852 CAD
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8058 S Hermitage Ave
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