7322 S. Kingston, a legal 5-unit located in Chicago's South Shore neighborhood. The subject property comprises five spacious 1 bedroom 1 bath units. The units offer predominantly hardwood floors and standard finishes in the kitchen and bathrooms. The second-floor units have individual furnaces, while the first-floor units have baseboard hot water with individual boilers, resulting in all tenants paying for their separate heat. The property has been maintained on a need-by-need basis, and the porches were replaced in 2018. The rent has not been raised since the property was purchased in 2016. 7322 S. Kingston presents a value-add opportunity to a qualified investor by updating the units with modern finishes and bringing the rents up to market. This has the potential to increase the existing CAP Rate to over 8.5% and a CoC return of 11%. *Note* The pictures show a vacant unit renovated in early 2024. It has remained vacant for showing purposes. This is to give the buyer a vision of what the other units can look like. The other units have not been renovated to this caliber. The Offering Memorandum is available upon request. Please email or call listing agent.
