3255-3259 W 62nd Pl - Apartments FOR SALE


Chicago, IL 60629- Chicago Lawn
$1,000,000 USD
773-293-5056
3255-3259 W 62nd Pl, Chicago, IL for Sale
$1,000,000 USD
Apartments - FOR SALE
1/7
null | 9.26% Cap Rate

3255-3259 W 62nd Pl
Chicago, IL 60629
Chicago Lawn


HIGHLIGHTS

  • 9.26% In-Place Cap Rate
  • Attractive Unit Mix - Twelve (12) 2Bd/1Ba Units
  • Recently Renovated, Spacious Units
  • Chicago Lawn Neighborhood - Easy Access to Public Transportation
  • Historically Low Vacancy

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase 3259 W. 62nd Place, a Twelve (12) unit building in one of Chicago’s most desirable Southwest neighborhoods, Chicago Lawn. This property is situated just a block west of Kedzie & 63rd, providing easy access to popular retail attractions for tenants. Encompassed by an abundance of single-family homes, Chicago Lawn offers residents a suburban feel while still being in an urban environment. 3259 W. 62nd Place is conveniently comprised of Twelve (12) 2Bd/1Ba units. The units are incredibly appealing to potential tenants, creating comfort through spacious floor plans with both living and dining areas. In addition, the property has been updated with a new furnace and copper plumbing throughout, creating an attractive investment opportunity for the long-term life of the property. 3259 W. 62nd Place presents an investor a rare opportunity to acquire a property with upmost potential and very desirable unit mix. From day one, an investor will realize a cap rate of 9.26% and a cash return of over 14.%. Through improved leasing and raising rents to levels already being achieved, the building offers an investor the potential to reach a cap rate over 15% and nearly 39% cash return.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

12

PRICE/UNIT

$83,333

CAP RATE

9.26%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,127 SF

ZONING

RS-3

APN/PARCEL ID

19-14-431-001-0000

ASK ABOUT THIS PROPERTY

John GeorgeKiser GroupMore Info
773-293-5056

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John GeorgeKiser GroupMore Info
773-293-5056

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.