8211 S Ada ST Chicago, IL 60620

- 10.5% In-Place Cap Rate - Gross Income (w/ 5% vacancy): $68,731 - NOI: $43,662 Kiser Group is pleased to exclusively offer for purchase the sale of 8211 S. Ada, a beautifully updated, center entranced seven (7) unit building located in the Auburn Gresham neighborhood of Chicago's South Side. The building sits on an incredibly quiet, tree lined, one way street nestled amongst an abundance of single family residences. Additionally, the property sits just blocks away from Foster Park, one of Chicago's premier parks featuring an indoor pool, fitness center, and an outdoor water playground. 8211 S. Ada has a unique unit mix comprised solely of six (6) one bedroom units, along with a seventh garden level studio. All of the above ground units, however, boast over 1,000 square feet of living space and include an incredibly spacious living room along with separate dining rooms. Additionally, they are all configured in a way which easily allow for either the living room or dining room to be walled-off and converted into an additional bedroom. In addition to updated kitchens and baths, recent improvements to the building include, but not limited to, recently and updated tuck pointing (2019-2020), porch repairs to comply with most recent code (2020), newer windows, along with a modern Peerless boiler. The building is also equipped with an updated and functional two car garage, which is currently being used by the owner and not being capitalized on financially. 8211 S. Ada presents an investor a unique opportunity to acquire a positive, incredibly strong cash flowing asset with an in place cap rate over 10.5% along with a cash return of nearly 26%. Although the building has incredibly strong and long term tenant base, rents currently range from $800 to $1,050. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to attain over a 13% cap rate. Furthermore, these figures can be even further improved should a new owner decide to convert the one bedroom units to two bedroom units.