$495,000 Price Analysis    ♡   Chicago, IL 60617 6 bed 3 bath unknown SqFt ($0/SqFt) 5,227SqFt lot. Built 1928 Listed 2021-03-20, Taxes $8,155 | Ⓧ USDA Ineligible due to location near Chicago |
Dior Realty Group is pleased to exclusively offer for purchase the sale of 7932 S.
* No Longer For Sale *
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Kingston Ave., Center entranced seven (7) unit building Located in the South Shore area of Chicago's South Side. The building sits on a quiet, one way street in walking distance to Rainbow Park beach and public transportation. 7932 S. Kingston Ave. is comprised of (3) three (3) three-bedroom (1.5) bath, (3) three (2) two-bedroom (1) one bath units and (1) one (1) one bedroom (1) one bath units. All of the units bost roughly 800 - 1, 200 square feet of living space including a big living room with eat in dining rooms. Each unit is individually heated. Recent improvements to the building include new porch, new water heater, new furnace in (3) units and new roof on garage.
The building is maintained with an onsite handyman. Recent maintenance projects to include tuckpointing, replacement of common area carpet and common area paint. The building is also equipped with a three-car garage. Currently being used by the owner but can be rented out to the tenants for additional revenue. 7932 S. Kingston Ave., presents an investor an opportunity to acquire a positive, incredibly strong cash flowing asset with an in place cap rate over 10% leveraged before cash on cash return. Cash on cash return of 50%. The building has a strong tenant base, rents are a mix of agency (CHA Section 8) and market rents totaling a monthly income of $6, 691. By streamlining the rent, monetizing the parking spaces and providing minor upgrades, there is an opportunity to improve upon the already impressive 10% cap rate. Lastly, these figures can be even further improved if the new owner decide to utilize the full height basement by making (1) additional unit in the basement.
Presented by Yanira Doyle at
COMPASS.
Property MLS #11027278 from MRED
Heating Features: Forced Air, Separate Per Unit
Lot Size Dimensions: 0.128 ACREAGE
Lot Size Square Feet: 5227
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 1
Full Bathrooms in Unit-1: 1
Full Bathrooms in Unit-2: 1
Full Bathrooms in Unit-3: 1
Source Listing Status: Closed
County: Cook
Directions: From the Dan Ryan exit 79th st head east to Kingston Ave. turn right
Tax Year: 2019
Other Expense: 5781
Source Property Type: Corridor-Interior Entrance
Area: CHI - South Chicago
Source Neighborhood: CHI - South Chicago
Parcel Number: 21311020210000
Trash Expense: 1200
Zoning: MULTI
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2021 | $34,420 + $6,138 $40,558 | $8,155 |
| 2020 | $35,183 + $6,138 $41,321 | $9,205 |
| 2019 | $35,183 + $6,138 $41,321 | $8,301 |
| 2018 | $35,183 + $6,138 $41,321 | $8,162 |
| 2017 | $31,665 + $5,022 $36,687 | $7,897 |
| 2016 | $31,665 + $5,022 $36,687 | $7,347 |
| 2015 | $14,978 + $5,022 $20,000 | $3,664 |
| 2014 | $22,385 + $4,185 $26,570 | $4,929 |
| 2013 | $22,385 + $4,185 $26,570 | $4,832 |
| 2012 | $16,789 + $4,185 $20,974 | $3,763 |
| 2011 | $18,654 + $4,185 $22,839 | $3,701 |
| 2010 | $29,102 + $5,440 $34,542 | $5,620 |
| 2009 | $35,817 + $6,696 $42,513 | $6,629 |
| 2007 | $30,337 + $4,017 $34,354 | $4,879 |
| 2006 | $30,337 + $4,017 $34,354 | $4,931 |
$0
MRED
Listed 2024-04-13
$630,000
MRED
Sold 2021-07-02
$430,000
MRED
Price Changed 2021-05-09
$495,000
MRED
Price Changed 2021-04-19
$500,000
MRED
Listed 2021-03-20
$550,000
MRED
Listing removed 2021-03-18
$550,000
MRED
Listed 2021-03-12
$550,000
MRED
Sold 2000-09-06
$165,000
Public Record
Operating Expense: 24654
Property Age: 93
Levels or Stories: 3
Structure Type: Property Type: Multi Family 5+
Water Sewer Expense: 3047
Map directions Map directions Map directionsThe property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.