4550 S King Dr
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4550 S King Dr
6 Unit Apartment Building $1,050,000 ($175,000/Unit) 8% Cap Rate Chicago, IL 60653
Investment Highlights
- Six (6) Spacious 3Bd/2Ba Units
- Copper Plumbing
- Prime Bronzeville Location
- Modern Weil McLain Boiler w/ R&D Controls
- Updated Kitchens & Baths
Executive Summary
Kiser Group is pleased to exclusively offer for purchase the sale of 4550 S King, a pristine six (6) unit walk up tucked away in the Bronzeville neighborhood of Chicago’s South Side. The subject site sits directly in the core of one of Chicago’s most rapidly expanding neighborhoods and is roughly two (2) blocks away from Chicago’s Green Line, “El”, train station at 47th.
4550 S. King has a desirable unit mix consisting of six (6) 3Bd/2Ba units. All of which have spacious layouts and have tastefully updated kitchens and baths. Recent capital improvements include, but are not limited to: modern Weil McLain boiler with R&D control system, updated copper plumbing, complete roof tear off (2018), and an on site laundry facility.
4550 S. King presents an investor with the unique opportunity to acquire an asset with tremendous upside. Given the size of the units and current market rents, there is a substantial ability to push rents significantly higher. Simply by stabilizing rents at levels already being achieved in the building, a new owner has the potential to see materially higher returns.
4550 S. King has a desirable unit mix consisting of six (6) 3Bd/2Ba units. All of which have spacious layouts and have tastefully updated kitchens and baths. Recent capital improvements include, but are not limited to: modern Weil McLain boiler with R&D control system, updated copper plumbing, complete roof tear off (2018), and an on site laundry facility.
4550 S. King presents an investor with the unique opportunity to acquire an asset with tremendous upside. Given the size of the units and current market rents, there is a substantial ability to push rents significantly higher. Simply by stabilizing rents at levels already being achieved in the building, a new owner has the potential to see materially higher returns.
Property Facts
| Price | $1,050,000 | Apartment Style | Low Rise |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 8% | Building Size | 13,275 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1888 |
| Property Subtype | Apartment |
| Price | $1,050,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 13,275 SF |
| No. Stories | 3 |
| Year Built | 1888 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 6 | - | - |
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Walk Score ®
Very Walkable (83)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 20-03-317-029-0000 | Improvements Assessment | $60,112 |
| Land Assessment | $27,888 | Total Assessment | $88,000 |
PROPERTY TAXES
Parcel Number
20-03-317-029-0000
Land Assessment
$27,888
Improvements Assessment
$60,112
Total Assessment
$88,000
zoning
| Zoning Code | RM-5 (Medium to high-density apartment buildings) |
| RM-5 (Medium to high-density apartment buildings) |
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4550 S King Dr
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