Kiser Group is pleased to exclusively present for purchase 6344 S. Throop, a beautiful six (6) unit walk-up building located in Chicago's Englewood neighborhood, just a few blocks from the Ashland/63rd "L" Stop. 6344 S. Throop is comprised of spacious one (1) 1b/1ba unit, and five (5) 2b/1ba units, with recent improvements including updated kitchens and bathrooms. This investment presents and investor a unique opportunity to acquire a cash-flowing asset. From day one, a new owner will realize an in-place cap rate of 11.09%, as well as an in-place cash-on-cash return of 26.13%. Additionally, through improved leasing and management, an investor can realize a cap rate of 12.82%, and a cash-on-cash return of just over 33%.
Key Points: Value-Add Oppurtunity 11.09% Cap Rate at List Price 26.13% Cash-on-Cash Return at List Price 12.82% Pro Forma Cap Rate 33% Pro Forma Cash-on-Cash Return
Asking Price: $300,000
Building Size: 5,200 SQ FT
Cost per Square Foot: $57.69