Sold
Closed
6605 S Kimbark Avenue
Chicago IL, 60637
$1,225,000
Sold
Closed
Multi-family
Built in 1900
Courtesy of Kiser Group Realty Inc
6605 S. Kimbark is a gut renovated eight (8) unit, center-entrance walkup located just outside Hyde Park in Chicago's East Woodlawn neighborhood. The property is nestled amongst new construction developments on all sides and is located just blocks from the prestigious University of Chicago. Additionally, the asset sits just blocks away from the construction site of the future Obama Presidential Library, 6605 S. Kimbark has an incredibly desirable unit mix comprised of eight (8) 2Bd/2Ba units. All of which have been gut renovated with high end finishes including granite countertops, stainless steel appliances, dishwashers, in-unit laundry, and modern bathrooms. In addition to its cosmetic finishes, the building also features individual furnaces & hot water tanks, updated electric, and a brand new porch (2021). 6605 S. Kimbark offers an investor the rare opportunity to acquire a cash flowing asset in one of Chicago's fastest growing and rapidly expanding neighborhoods. From day one, an investor will realize an in place cap rate over 8% and a cash return of 9.35%. While the area continues to develop and rents continue to rise, through releasing and increasing rents to updated market levels, an investor could further improve cash returns.
11949413
MLSⓇ ID
December 19, 2023
Listed
October 2, 2024
Updated
Map
6605 S Kimbark Avenue
Chicago IL, 60637
Other Property Details
Area Name
CHI - Woodlawn
Taxes
$11,847
Tax Frequency
Annually
Days on Market
144
Garage
No
View
No
County
Cook
Pool
No
Listing History
Date | Event | Price |
---|---|---|
7/22/2024 | Sold | $1,225,000 |
5/10/2024 | Pending | — |
Courtesy of Kiser Group Realty Inc, Aaron Sklar,
Listing Contact: 773-293-5000
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Data last updated 3:54 AM UTC, 10/2/2024