8503 S Drexel Ave 13 Unit Apartment Building $1,277,267 CAD ($98,251 CAD/Unit) 10% Cap Rate Chicago, IL 60619

Kiser Group is pleased to exclusively offer for purchase the sale of 8503 S. Drexel, a meticulously maintained thirteen (13) unit property in Chicago’s highly desirable Chatham neighborhood. The building is nestled away on a quiet, tree-lined street, amongst residential duplexes and single-family homes. Renters are attracted to the neighborhood given its suburban and residential feel while still maintaining its urban environment. Additionally, the building sits just a few blocks off the neighborhood’s commercial corridor along 87th street featuring an assortment of retail and grocery options.
8503 S. Drexel is currently comprised of nine (9) 1Bd/1Ba and four (4) 2Bd/1Ba units. All of which, however, are incredibly spacious and feature an abundance of natural light. Recent capital improvements to the building consist of, but not limited to: updated kitchens and baths, masonry and tuckpointing work, along with plumbing improvements.
8503 S. Drexel presents an investor an unique opportunity to acquire a strong, positive cash-flowing building in an incredibly desirable pocket of Chatham. From day one, an investor will realize an in-place cap rate of 10% along with an equally impressive double-digit cash return of 17.83%. Furthermore, solely by increasing rents to rents that are already being achieved in the area, there is an opportunity to achieve a 13% cap rate.