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$362,500
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7848 S Coles Avenue

Chicago, Illinois 60649
Closed / MLS #10278848 / Multiple Family / South Shore
Listing information updated 8/4/2023 at 1:43pm
7848 S. Coles, an eight (8)-unit walk up building located in Chicago's historic South Shore neighborhood, steps away from Lake Michigan and Rainbow Beach Park. 7848 S. Coles is comprised of four (4) 1Bd/1Ba units and four (4) 2Bd/1Ba units, with hardwood flooring throughout, renovated kitchens and updated baths. There is also a three (3) car garage and two (2) parking spots currently unused, providing an investor with additional income. This investment presents an investor with a unique opportunity to acquire a stabilized and cash flowing asset. From day one, a new owner will realize an in place cap rate over 10% and a cash-on-cash return over 21%. Through improved leasing and stabilizing rent to market levels, an investor has the potential to reach a cap rate of 11.2% and a cash-on-cash return of 25.46%.

Full Features

Water Front:
No
Square Feet:
N/A
Built:
1963
Parking Spaces:
3
Stories:
3
Zoning:
MULTI
Current Net Income:
$43,201
Unit 1:
4 room(s) / 1 bed(s) / 1 bath(s)
Unit 2:
5 room(s) / 2 bed(s) / 1 bath(s)

Taxes & Assessments

Tax Amount:
$7,026
Tax Year:
2017

Location

Zip Code:
60649
City:
Chicago
County:
Cook

Listing Office: Kiser Group Realty Inc

Listing Office Phone: 773.293.5000

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 8/4/2023 at 1:43pm. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

South Shore

South Shore, IL

Once a vacation destination for Chicago’s elite, the South Shore has become an increasingly popular place to call home. Located on Chicago’s scenic lakefront, the neighborhood’s beautiful beaches, plentiful green space and easy access to downtown via Lake Shore Drive are attracting a new gener...

Metra

Metra
Metra Electric South Chicago Branch line at Cheltenham Metra
$180,192
Average Sale Price
93
Average Days On The Market
93%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 7848 S Coles Avenue, Chicago, IL 60649

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7848 S Coles Avenue is a multiple family which sold for $362,500. This multiple family has been listed on @properties since December 17th, 2018 and was built in 1963. The nearest transit stops include Cheltenham Metra Metra Metra Electric South Chicago Branch line.

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