4351-59 S. Martin Luther King Dr.

Property Overview

Interra Realty has been exclusively engaged to market for sale 4351-59 S. Martin Luther King Drive, an 18-unit, corner walk-up apartment building in Chicago’s historic Bronzeville neighborhood. The property features one (1) 2BR/ 1.5BA, eleven (11) 3BR/ 1.5BA, three (3) 4BR/ 1.5BA and three (3) 5BR/2.5BA units.


Throughout the course of current ownership, units have experienced varied improvements from new kitchen cabinetry to modern appliances and all units feature radiator steam heat. In addition, the property features on-site common laundry and offers tenants convenient access to local shopping and public transportation.

Highlights

  • Highly desirable Bronzeville location on scenic boulevard
  • Strong historical occupancy with large floorplans
  • Value-add opportunity through in unit modernization
  • On site laundry for tenant convenience

Key Details

SALE PRICE
$1,975,000
ZONING
RM-5
NUMBER OF UNITS
18
PRICE PER UNIT
$109,722
CAP RATE
6.76%
SUBMARKET
Bronzeville