6237-43 S. Spaulding AveChicago, IL 60629

For Sale
$875,000

12 unit building in one of Chicago’s most desirable Southwest neighborhoods, Chicago Lawn

Overview

Added:
Jan 17
Days on market:
58
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, recent unit updates create 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 10.58% and a cash return of 19.59%. Through improved leasing and raising rents to levels already being achieved, the building offers an investor the potential to reach a cap rate over 14% and nearly 36% cash return.

Highlights

  • 10.58% 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

Property Details for 6237-43 S. Spaulding Ave

Property type
Multifamily properties, Residential income homes
Square Feet
10,800 SF
Price / Square Foot
$81.02
Buildings
1
Stories
2
Elevators
N/A
Lot Size (sq. ft)
10,800 SF
Units
12

Location Insight

City
Chicago
County
State
Illinois

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
6237-43 S. Spaulding Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message