Property Overview

Interra Realty, LLC has been exclusively engaged to market for sale 4400 S. Drexel Blvd. The subject investment property is a 46 unit, courtyard style mutilfamily building in Chicago's historic Kenwood Neighborhood.

The property is professionally managed and offers a mix of primarily studio and one bedroom units with varying layouts. Throughout the course of ownership, units have experienced varied in unit improvements from new kitchen cabinetry to modern appliances. In addition, there is a large on site laundry facility for tenant convenience.

A new investor has an ability to capture immediate scale in a highly desirable neighborhood within Chicago's South Side. In addition, there is substantial opportunity to realize higher rent levels via in-unit and common area modernization.

Highlights

  • Desirable Kenwood Location on Scenic Boulevard
  • Strong Historical Occupancy Under Current Ownership
  • Value Add Opportunity

Key Details

Asking Price
$3,650,000
Number of Units
46
Lot Size
10,019 SF
Building Size
24,000 SF
Year Built
1924
Cap Rate
7.09%