Description
One-of-A-Kind Legacy Investment Opportunity set in Vibrant Bronzeville on Historic King Drive Offering 90%+ controlling majority stake. NOI $157,698 /7% CAP. Stabilized Contiguous corner comprised of 8 residential units + + with significant separate 17 car secured parking lot offers abundant choice for numerous investment objectives. Intelligent design, expansive and diverse floorplans, unit mix offering includes but not limited to (5) extraordinary, sprawling 6 room 2 bedroom 2 baths (3) unbelievably enormous 3 bedroom 3 baths simplexes. Superior attention to detail in all aspects realized in high tenant retention rates. Refined living, endless appointments with unsurpassed opulence, premium millwork, professional grade kitchens, fireplaces, resort inspired bathrooms, individual HVAC, washer dryers in unit, custom closets, window treatments, dimmers, designer lighting, full slab and mitered edging are a soft sampling of the exhausting list of unit features. Apartment reviews yielded a maintenance level rarely encountered. Sale is inclusive of immediately adjacent @ 4945 S Calumet (behind 4954-58 King) expertly over-engineered 17 car parking lot, cement paved, lined, remote secured access, professionally landscaped with irrigation system. Parking System built-out with full plans and permits for permitted use. Palpable expansion opportunities for 2 ADU's within the King envelope offering + Opportunity to purchase @ $375K center entry side by side 6 unit ADD ON property @350 E 50th. This value add hybrid requires complete renovation , all 2-bedroom 2 bath inclusive of architectural plans designed as 8 envisioning 2 additional units below grade. See separate listing for further details. The opportunity to scale further can be packaged with neighboring fully stablized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP and/or 4953-55 S Calumet Center Entry 8 units + 8 parking spaces. NOI $124,873 / 6.9 CAP Meticulous attention to detail in all aspects from skilled scaled veteran ownership team. Transparent, comprehensive scope of work, capital improvements rent roll, lease schedules and full financials available on request. Exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. 48 hours notice to show. Rare opportunity to obtain a sizeable AA turnkey footprint strategically positioned for continue long term growth. See Agent Remarks for additional information
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School Ratings & Info
Description
One-of-A-Kind Legacy Investment Opportunity set in Vibrant Bronzeville on Historic King Drive Offering 90%+ controlling majority stake. NOI $157,698 /7% CAP. Stabilized Contiguous corner comprised of 8 residential units + + with significant separate 17 car secured parking lot offers abundant choice for numerous investment objectives. Intelligent design, expansive and diverse floorplans, unit mix offering includes but not limited to (5) extraordinary, sprawling 6 room 2 bedroom 2 baths (3) unbelievably enormous 3 bedroom 3 baths simplexes. Superior attention to detail in all aspects realized in high tenant retention rates. Refined living, endless appointments with unsurpassed opulence, premium millwork, professional grade kitchens, fireplaces, resort inspired bathrooms, individual HVAC, washer dryers in unit, custom closets, window treatments, dimmers, designer lighting, full slab and mitered edging are a soft sampling of the exhausting list of unit features. Apartment reviews yielded a maintenance level rarely encountered. Sale is inclusive of immediately adjacent @ 4945 S Calumet (behind 4954-58 King) expertly over-engineered 17 car parking lot, cement paved, lined, remote secured access, professionally landscaped with irrigation system. Parking System built-out with full plans and permits for permitted use. Palpable expansion opportunities for 2 ADU's within the King envelope offering + Opportunity to purchase @ $375K center entry side by side 6 unit ADD ON property @350 E 50th. This value add hybrid requires complete renovation , all 2-bedroom 2 bath inclusive of architectural plans designed as 8 envisioning 2 additional units below grade. See separate listing for further details. The opportunity to scale further can be packaged with neighboring fully stablized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP and/or 4953-55 S Calumet Center Entry 8 units + 8 parking spaces. NOI $124,873 / 6.9 CAP Meticulous attention to detail in all aspects from skilled scaled veteran ownership team. Transparent, comprehensive scope of work, capital improvements rent roll, lease schedules and full financials available on request. Exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. 48 hours notice to show. Rare opportunity to obtain a sizeable AA turnkey footprint strategically positioned for continue long term growth. See Agent Remarks for additional information
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