6639-6641 S Kenwood Ave
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6639-6641 S Kenwood Ave
8 Unit Apartment Building $1,500,000 ($187,500/Unit) 6.09% Cap Rate Chicago, IL 60637
Investment Highlights
- Excellent Assumable Loan with a $1.1M Remaining Principal Balance and 5% rate with 57 months left to maturity (11/2028)
- Highly desirable location tucked away on the east side of Woodlawn
- Walking distance of Jackson Park and Lake Michigan
- Gut renovated in 2016, In-unit W/D in all units, ability to raise rents $300-400/ mo without significant improvements
- New Obama Center being constructed only a mile north
- Half mile north to the 63rd St Metra Stop and the CTA Cottage Grove Green line stop just a mile to the northwest
Data Room Click Here to Access
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $187,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.09% | Building Size | 10,869 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1903/2016 |
| Property Subtype | Apartment | Parking Ratio | 0.55/1,000 SF |
| Price | $1,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.09% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 10,869 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1903/2016 |
| Parking Ratio | 0.55/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $1,370 | 1,100 |
| 3+2 | 6 | $1,660 | 1,400 |
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PROPERTY TAXES
| Parcel Number | 20-23-224-010-0000 | Total Assessment | $57,601 |
| Land Assessment | $6,917 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $50,684 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
20-23-224-010-0000
Land Assessment
$6,917
Improvements Assessment
$50,684
Total Assessment
$57,601
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | 10 |
| 10 |
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6639-6641 S Kenwood Ave
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