11027-11035 S King Dr
Chicago, IL 60628
Immeuble residentiel Propriété À vendre · 27 Unités

This two-building, single-parcel multifamily asset located in Chicago’s Roseland neighborhood represents an attractive investment opportunity delivering both stability and upside. The property consists of 27 residential units in a classic four-story walk-up design, offering a mix of studios, one-bedroom, and three-bedroom layouts across 25,000 square feet of vintage brick construction. Current occupancy stands at 100%, with 10 units recently renovated, ensuring immediate cash flow and reduced near-term capital expenditure needs.
With an in-place gross scheduled income of $466,824 and an asking price of $2,600,000, the property reflects a compelling basis relative to comparable Roseland trades. Investors benefit from a stabilized pro forma NOI of $221,675, representing an 8.53% cap rate at stabilization and a post-improvement rent upside of approximately 21%, driven by market-average rents for similar product.
The asset’s location offers excellent commuter access, just 0.2 miles from the Pullman/111th Street Metra station and in proximity to I-94 and I-57. Additionally, residents enjoy convenient access to nearby retail corridors, Pullman National Historical Park, and the Lake Michigan shoreline. This combination of cash-flow stability, operational efficiencies from a single tax and insurance structure, and significant rent growth potential positions the property as a strong cash-on-cash performer in a market with a 3.6% vacancy rate.