6308 S Albany Ave
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6308 S Albany Ave
8 Unit Apartment Building Offered at $465,000 at a 6.04% Cap Rate in Chicago, IL 60629
Investment Highlights
- Two (2) Retail, Four (4) 2Bd/1Ba & Two (2) 1Bd/1Ba Units
- Spacious Unit Layouts
- Renovated, Rent-Ready West Retail Space
- Individually Furnaced
- Significant Rental Upside
Executive Summary
Kiser Group is pleased to exclusively offer for purchase the sale of 6308 S. Albany Ave, an eight (8) unit building in the Chicago Lawn neighborhood. The subject site sits on a corner lot close to many popular retail attractions in the Southwest side of Chicago, and is close to various bus stops providing transportation via Chicago’s Metra System.
6308 S. Albany Ave is comprised of two (2) retail spaces, two (2) 1Bd/1Ba, and four (4) 2Bd/1Ba units. Capital improvements include, but are not limited to, the addition of individual furnaces and three (3) units with in-apartment laundry. Additionally, the west retail space has been renovated and is rent-ready.
6308 S. Albany Ave presents an investor with the unique opportunity to acquire an asset with tremendous upside. A potential new
owner has the ability to capitalize by renovating units and stabilize rents at levels being achieved in the market. Through this, a new owner can achieve a cap rate of 11.78% and a cash return of over 24%.
6308 S. Albany Ave is comprised of two (2) retail spaces, two (2) 1Bd/1Ba, and four (4) 2Bd/1Ba units. Capital improvements include, but are not limited to, the addition of individual furnaces and three (3) units with in-apartment laundry. Additionally, the west retail space has been renovated and is rent-ready.
6308 S. Albany Ave presents an investor with the unique opportunity to acquire an asset with tremendous upside. A potential new
owner has the ability to capitalize by renovating units and stabilize rents at levels being achieved in the market. Through this, a new owner can achieve a cap rate of 11.78% and a cash return of over 24%.
Property Facts
| Price | $465,000 | Building Class | C |
| Price Per Unit | $58,125 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 6,600 SF |
| Cap Rate | 6.04% | No. Stories | 2 |
| No. Units | 8 | Year Built | 1923 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $465,000 |
| Price Per Unit | $58,125 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| No. Units | 8 |
| Property Type | Multifamily |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,600 SF |
| No. Stories | 2 |
| Year Built | 1923 |
| Opportunity Zone |
Yes |
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Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 19-24-101-008-0000 | Improvements Assessment | $56,454 |
| Land Assessment | $4,626 | Total Assessment | $61,080 |
PROPERTY TAXES
Parcel Number
19-24-101-008-0000
Land Assessment
$4,626
Improvements Assessment
$56,454
Total Assessment
$61,080
zoning
| Zoning Code | B1-1 (Retail storefronts on low-traffic streets. Apartments allowed above the ground floor.) |
| B1-1 (Retail storefronts on low-traffic streets. Apartments allowed above the ground floor.) |
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John George -
Joe Bianchi -
Kiser Group
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6308 S Albany Ave
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