Contingent

$380,000

Favorite

3,869

square ft

7322 S Kingston Avenue

Chicago, Illinois 60649

Contingent / MLS #12016667 / Multiple Family / South Shore

Listing information updated 4/17/2024 at 4:43pm

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.

Full Features

Exterior Type:

Brick

Water Front:

Square Feet:

3,869

Built:

1958

Cooling System:

Window Unit(s)

Stories:

Roof:

Membrane,Reflective Coating

Zoning:

MULTI

Building Square Feet:

3,869

Current Net Income:

$30,703

Unit 1:

4 room(s) / 1 bed(s) / 1 bath(s)

Taxes & Assessments

Tax Amount:

$3,908

Tax Year:

2022

Location

Zip Code:

60649

City:

Chicago

County:

Cook

Listing Office: Jameson Commercial

Listing Office Phone: 312.216.8000

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 4/17/2024 at 4:43pm. 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.

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Metra

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Average Sale Price

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.

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7322 S Kingston Avenue is a multiple family currently listed at $380,000. This multiple family has been listed on @properties since March 29th, 2024 and was built in 1958. The nearest transit stops include South Shore Metra Metra Metra Electric South Chicago Branch line.