$975,000 $5,234 est/mo Sourced by Back At You

7363 S Coles Avenue,Chicago, IL 60649

Chicago IL, 60649

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Description

7363 S. Coles is an incredibly Beautiful (9) unit property located in Chicago's South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago's Lake Shore Drive which provides tenants easy access to Chicago's downtown in roughly fifteen minutes. 7363 S. Coles is currently comprised of nine (9) spacious 2b/1ba units. All units feature hardwood flooring throughout as well as updated tiling and fixtures in the bathroom. Furthermore, additional improvements to the building consist of but are not limited to, updated electric, an updated and newly coated roof, and laundry available to all tenants. Given the location and quality of the units, there is an incredibly large demand for apartments such as these. 7363 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of over 8.2%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.

Details

MLS#11986316
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1923
Days On Site96
Listing Provided ByKiser Group Realty Inc | Aaron Sklar

Features

Story(s)3
Units9

Market Activity 60649

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Listings Checked: 50 seconds ago
StateIL
CountyCook
CityChicago
Zip Code60649
AreaCHI South Shore
Listing VS Median (in 60649)
Price:
$975,000
low | high
Med:
$140,000
100% of Average
On Site:
96
low | high
Med:
75
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 7:29:25 PM PDT