3428 S King Drive
Douglas
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Description
3428 S. King Drive is a beautiful six (6) flat Greystone building in Chicago's Bronzeville neighborhood. The building provides easy access to downtown and is located just a few blocks from Lake Michigan. 3428 S. King is a unique opportunity to obtain a cash-flowing mixed-use property in one of the most desirable pockets of Chicago's south side. The building is comprised of two (2) master lease retail units, two (2) 3BD/2BA & two (2) 4BD/2BA. Recent improvements to the building include but are not limited to: gut-renovated units with modern finishes throughout, central air, individual mechanicals, in-unit washer dryer, updated electric, copper plumbing, and an abundance of tuckpointing and masonry work. From day one, a new investor will realize a cap rate exceeding 8% and cash returns approaching 9%. The retail units have master leases signed that extend through 2027. Through optimizing expenses and raising rents to levels already achieved throughout the building, a new investor can realize a cap rate approaching 9% and cash returns approaching 12%.Listing Courtesy of kiser group realty inc
Amenities
Essentials
MLS #: 12032117
Area:
Douglas
Price:
$2,950,000
Location: 3428 S King Drive
Property Type: Apartment
Bedrooms: Studio
Taxes:
$20,901
Pet Policy:
Unknown
Amenities
Contact Westward360
Provided Courtesy of kiser group realty inc
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
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