6201-03 S Champlain Ave
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6201-03 S Champlain Ave
12 Unit Apartment Building $2,350,000 ($195,833/Unit) 9.09% Cap Rate Chicago, IL 60637
Investment Highlights
- 9% In-Place Cap Rate
- In-Unit Washer & Dryer
- Four (4) Oversized Duplex-Down Units
- Recently Renovated Units
- Individual Furnaces & Hot Water Tanks
- Quiet, Residential Block Amongst New Construction Buildings
Executive Summary
Kiser Group is pleased to exclusively offer for purchase 6201 S. Champlain, a rarely available twelve (12) unit building located just outside of Hyde Park in Chicago's West Woodlawn neighborhood. The property is situated on a quiet, residential block amongst new construction buildings, blocks away from the prestigious University of Chicago and the construction site of the future Obama Presidential Library.
6201 S. Champlain boasts a unique unit-mix, comprised of two (2) 2bd/1ba, four (4) 2Bd/2Ba, two (2) 3Bd/2Ba, one (1) 3Bd/2.5Ba, and three (3) 4Bd/2.5Ba units, with each of the four (4) first floor apartments being oversized, duplex down units. All units feature incredibly spacious layouts, with ten (10) units having been recently renovated to include updated hardwood flooring, kitchens, and baths. Each unit also includes individual furnaces, hot water tanks, and washer & dryers. Additional updates include but are not limited to: 100% copper plumbing, updated electrical service, a new silver coating on the roof (2021), and an abundance of cosmetic upgrades.
6201 S. Champlain presents an investor with the opportunity to acquire a rarely available and highly desirable building in one of Chicago's fastest growing neighborhoods. From day one, a new owner will benefit from an incredibly stable tenant base at an in-place cap rate of just over 9% and a cash-on-cash return of just under 14%.
6201 S. Champlain boasts a unique unit-mix, comprised of two (2) 2bd/1ba, four (4) 2Bd/2Ba, two (2) 3Bd/2Ba, one (1) 3Bd/2.5Ba, and three (3) 4Bd/2.5Ba units, with each of the four (4) first floor apartments being oversized, duplex down units. All units feature incredibly spacious layouts, with ten (10) units having been recently renovated to include updated hardwood flooring, kitchens, and baths. Each unit also includes individual furnaces, hot water tanks, and washer & dryers. Additional updates include but are not limited to: 100% copper plumbing, updated electrical service, a new silver coating on the roof (2021), and an abundance of cosmetic upgrades.
6201 S. Champlain presents an investor with the opportunity to acquire a rarely available and highly desirable building in one of Chicago's fastest growing neighborhoods. From day one, a new owner will benefit from an incredibly stable tenant base at an in-place cap rate of just over 9% and a cash-on-cash return of just under 14%.
Property Facts
| Price | $2,350,000 | Building Class | C |
| Price Per Unit | $195,833 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 9,300 SF |
| Cap Rate | 9.09% | Average Occupancy | 92% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,350,000 |
| Price Per Unit | $195,833 |
| Sale Type | Investment |
| Cap Rate | 9.09% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,300 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 1912 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 3 | - | - |
| 3+1 | 3 | - | - |
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Walk Score ®
Very Walkable (75)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 20-15-421-034-0000 | Improvements Assessment | $60,529 |
| Land Assessment | $4,049 | Total Assessment | $64,578 |
PROPERTY TAXES
Parcel Number
20-15-421-034-0000
Land Assessment
$4,049
Improvements Assessment
$60,529
Total Assessment
$64,578
zoning
| Zoning Code | R3, Chicago |
| R3, Chicago |
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Noah Birk -
Aaron Sklar -
Kiser Group
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6201-03 S Champlain Ave
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