$98.22 Per Sq Foot $2,040 est/mo Sourced by Back At You

7322 S Kingston Avenue,Chicago, IL 60649

Chicago IL, 60649

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Description

7322 S. Kingston, a legal 5-unit located in Chicago's South Shore neighborhood. The subject property comprises five spacious 1 bedroom 1 bath units. The units offer predominantly hardwood floors and standard finishes in the kitchen and bathrooms. The second-floor units have individual furnaces, while the first-floor units have baseboard hot water with individual boilers, resulting in all tenants paying for their separate heat. The property has been maintained on a need-by-need basis, and the porches were replaced in 2018. The rent has not been raised since the property was purchased in 2016. 7322 S. Kingston presents a value-add opportunity to a qualified investor by updating the units with modern finishes and bringing the rents up to market. This has the potential to increase the existing CAP Rate to over 8.5% and a CoC return of 11%. *Note* The pictures show a vacant unit renovated in early 2024. It has remained vacant for showing purposes. This is to give the buyer a vision of what the other units can look like. The other units have not been renovated to this caliber. The Offering Memorandum is available upon request. Please email or call listing agent.

Details

MLS#12016667
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive Under Contract
Year1958
Days On Site51
Listing Provided ByJameson Commercial | Marco Cesario

Features

SQ Feet3,869
Story(s)2
Units5
ZoningMULTI

Market Activity 60649

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Listings Checked: 4 minutes ago
StateIL
CountyCook
CityChicago
Zip Code60649
AreaCHI - South Shore
Listing VS Median (in 60649)
Price:
$380,000
low | high
Med:
$140,000
100% of Average
SqFt:
3,869
low | high
Med:
22,500
100% of Average
$ / SqFt:
$98
low | high
Med:
$6
100% of Average
On Site:
51
low | high
Med:
67
76.119402985075% of Average
Sourced by Back At You
Listing Updated: May 1, 2024 at 9:20:56 PM PDT