7800 S Coles Ave
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7800 S Coles Ave
11 Unit Apartment Building $1,529,697 CAD ($139,063 CAD/Unit) 9.48% Cap Rate Chicago, IL 60649
Executive Summary
Kiser Group is pleased to exclusively present for purchase 7800 S. Coles a beautiful eleven (11) California-style building located in Chicago's historic South Shore Neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes.
7800 S. Coles is comprised of five (5) 1b/1ba and six (6) 2bd/1ba. The units all feature hardwood flooring throughout and updated LVP flooring where necessary. Furthermore, additional improvements to the building consist of but are not limited to, in-unit HVAC, all copper plumbing, an updated roof, laundry access for tenants, and a paved parking lot in the rear.
7800 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.48%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.
7800 S. Coles is comprised of five (5) 1b/1ba and six (6) 2bd/1ba. The units all feature hardwood flooring throughout and updated LVP flooring where necessary. Furthermore, additional improvements to the building consist of but are not limited to, in-unit HVAC, all copper plumbing, an updated roof, laundry access for tenants, and a paved parking lot in the rear.
7800 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.48%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.
Property Facts Under Contract
Price | $1,529,697 CAD | Building Class | C |
Price Per Unit | $139,063 CAD | Lot Size | 0.20 AC |
Sale Type | Investment | Building Size | 11,500 SF |
Cap Rate | 9.48% | Average Occupancy | 45% |
No. Units | 11 | No. Stories | 3 |
Property Type | Multifamily | Year Built | 1962 |
Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
Apartment Style | Low Rise |
Price | $1,529,697 CAD |
Price Per Unit | $139,063 CAD |
Sale Type | Investment |
Cap Rate | 9.48% |
No. Units | 11 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.20 AC |
Building Size | 11,500 SF |
Average Occupancy | 45% |
No. Stories | 3 |
Year Built | 1962 |
Parking Ratio | 0.87/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Range
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 5 | - | 750 |
2+1 | 6 | - | 850 |
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PROPERTY TAXES
Parcel Number | 21-30-410-010-0000 | Improvements Assessment | $94,943 CAD |
Land Assessment | $15,320 CAD | Total Assessment | $110,263 CAD |
PROPERTY TAXES
Parcel Number
21-30-410-010-0000
Land Assessment
$15,320 CAD
Improvements Assessment
$94,943 CAD
Total Assessment
$110,263 CAD
zoning
Zoning Code | R4, Chicago (Single-Family Residential District) |
R4, Chicago (Single-Family Residential District) |
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7800 S Coles Ave
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