For Sale
$975,000

11343 King DrChicago, IL 60628

13-unit multifamily, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 13-unit apartment building, located at 11343 S King Dr in Chicago's Pullman neighborhood, presents a compelling investment opportunity. Boasting 9,900 square feet, the property features a desirable mix of nine 1-bedroom/1-bathroom units, three 2-bedroom/1-bathroom units, and one spacious 3-bedroom/1-bathroom unit. All units showcase hardwood floors, updated kitchens with newer cabinets and granite countertops. Significant renovations completed in 2018 include a code-compliant porch, updated electrical wiring, new windows, masonry and tuckpointing, and a modern boiler. The building benefits from its proximity to Palmer Park, offering recreational amenities, and is just two blocks from the 111th Street Metra station, providing convenient access to downtown Chicago. Situated in a federally recognized opportunity zone, this property offers a strong 11.40% cap rate and significant value-add potential through improved leasing and management, potentially increasing the cap rate to nearly 12%. The asking price is $975,000. This is a rare chance to acquire a well-maintained, high-performing multifamily asset in a thriving Chicago neighborhood.

Highlights

  • Renovated units feature updated kitchens with granite countertops.
  • New porch and windows installed.
  • Value-add opportunity through increased occupancy.
  • 11.4% pro forma cap rate.

Property Details for 11343 King Dr

Property type
Apartment buildings
Square Feet
9,900 SF
Year Renovated
2018
Units
13

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.6878079
Longitude
-87.6128497
11343 King Dr, Chicago, Illinois

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11343 King Dr
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