6553 S King Drive Chicago, IL 60619

- 8.05% In Place Cap Rate - Gross Income (w/ 5% vacancy): $266,520 - NOI: $173,028 Kiser Group is pleased to exclusively present for purchase 6553 S. King Dr, a 24-unit walk-up building, completely restored and gut-rehabbed in the Woodlawn neighborhood of Chicago's South Side. The property sits on Chicago's historic Martin Luther King Boulevard and is located only two (2) blocks south of the King Drive "El" train stop, which provides tenants with direct, affordable, and easy access to Chicago's downtown 6553 S. King has an incredibly desirable unit mix which is solely comprised 2Bd/1Ba units, all of which have been fully gut rehabbed to the studs. Each unit boasts a unique, spacious, and open layout with hardwood flooring throughout, an abundance of natural light, and contain upgraded kitchen appliances with granite countertops. In addition to the buildings improved interior, further improvements consist of, but are not limited to, a brand new roof, individual HVAC units, new hot water heater/tanks, updated copper plumbing, in-unit circuit breakers, as well as security camera - both interior and exterior. Additionally, the building contains a laundry facility in the basement providing renters with an easy and affordable amenity while further increasing the buildings gross income. 6553 S. King offers an investor the opportunity to acquire an incredibly strong, positive, cash-flowing asset in one Chicago's most appreciating neighborhoods. From day one, the asset's next owner will realize a cap rate over 8% and a cash return of 15% with absolutely zero deferred maintenance. Furthermore, through improved leasing and raising rents to levels already being achieved, an investor could achieve a cap rate of 9.48% and a cash return of nearly 21%.