11429 South King Drive

Chicago, IL 60628

$449,900
Price
16
Beds
10
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Great opportunity for the new or seasoned investor to acquire this 6-unit income-generating property. This property offers solid cash flow, has upward potential of 14% cap rate, and an upward potential of cash on cash return of 32%. The property has a new back porch (1-year old). The adjacent parking lot with separate PIN, 5 parking spaces, and a 2.5-car garage can generate additional income. Professionally managed. Being sold as-is. Four of the 6 units are currently leased. Perfect for the owner-occupant...Great opportunity for the new or seasoned investor to acquire this 6-unit income-generating property. This property offers solid cash flow, has upward potential of 14% cap rate, and an upward potential of cash on cash return of 32%. The property has a new back porch (1-year old). The adjacent parking lot with separate PIN, 5 parking spaces, and a 2.5-car garage can generate additional income. Professionally managed. Being sold as-is. Four of the 6 units are currently leased. Perfect for the owner-occupant situation! Showings by appointment only. The property won't last long, schedule a showing today!
  1. Listed by Latrease Davenport • PIP Realty Group

Property Details for 11429 South King Drive

Area
CHI - Roseland
Num of Interior Fireplaces
0
Zoning
MULTI

Location

Listing Courtesy of PIP Realty Group
Add your commute
LISTING UPDATED: 04/08/2024 12:06 AM

Property Details for 11429 South King Drive

StatusActive
MLS #12017135
Days on Market37
Taxes$4,008 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1906
Lot Size0.13 AC / 5,544 SF
CountyCook County

Location

Listing Courtesy of PIP Realty Group
Add your commute

Building Information for 11429 South King Drive

Stories-Residences6Year Built1906Building Size-Lot Size0.13 AC / 5,544 SF

Payment Calculator

$2,789 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,455

Property Taxes

$334

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 11429 South King Drive

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
  • Outdoor Parking: 1-5 Spaces
  • Open Parking Spaces: 7.0
Location and General Information
  • Frontage Type: City Street
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers
  • # Of Washers: 0
  • Basement Description: Finished
  • Heat/Ventilation: Forced Air
  • # Of Refrigerators: 6
  • Washer/Dryer Lsd: No
  • # Of Dryers: 0
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 10.0
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 5544
  • Lot Size Square Feet: 5544.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Smoke or Fire Protectors,Carbon Monoxide Detector(s)
  • Building Area Total: 7114
  • # Of Ranges: 6
  • Conversion: N
Property and Assessments
  • Possible Use: Multi-Family
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 0
  • Photos Count: 37
  • Deconversion: N
Miscellaneous
  • Current Use: Multi-Family
  • Location: In City Limits
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $500.00
  • Fuel Expense: $200.00
  • Gross Income: $81,624.00
  • Gross Scheduled Income: $87,624.00
  • Insurance Expense: $3,000.00
  • Maintenance Expense: $1,500.00
  • Manager Expense: $7,200.00
  • Electric Expense Source: Broker Projection
  • Known Encumbrances: None Known
  • Expense Year: 2021
  • Total Annual Expense Source: Broker Projection
  • Fuel Expense Source: Broker Projection
  • Insurance Expense Source: Broker Projection
  • Janitor Expense: 3500
  • Manager Expense Source: BP
  • Net Operating Income Year: 2021
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Broker Projection
  • Total Monthly Income: 7302
  • Water Expense Source: Broker Projection
  • Net Operating Income: $67,106.00
  • Operating Expense: $22,718.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $3,600.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 4
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 11429 South King Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 11429 South King Drive

Taxable ValueLand$7,207Additions$8,792Total$15,999
Tax Record2022$3,301 ($275 / month)
Home Facts
Baths6Total Finished SqFt7,114 SqFtAbove Grade Finished SqFt7,114 SqFtStories2Lot Size5,544 SqFtStyleMulti-Family Res (5+ Units)Year Built1906CountyCOOKAPN25-22-223-011

Schools near 11429 South King Drive

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - K to 8
Charter - 5 to 12
Rating
School
Distance
Pullman Elementary School
PublicPK to 8

Corliss High School
Public9 to 12

CICS Prairie
CharterK to 8

Chicago Collegiate Charter School
Charter5 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

11429 South King Drive is a multi-family home for sale in Chicago, IL 60628. This property was listed for sale on April 1, 2024 by PIP Realty Group, it's currently listed at $449,900. This listing's school district is City Of Chicago School District 299. Nearby schools include Pullman Elementary School, Corliss High School and CICS Prairie. 11429 South King Drive is a 16-bed, 10-bath, multi-family home built in 1906.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of PIP Realty Group

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.