6237-43 S. Spaulding Ave Chicago, IL 60629

This exceptional 12-unit multifamily property, located at 6237-43 S. Spaulding Ave in Chicago, IL 60629, presents a compelling investment opportunity. Situated in the desirable Chicago Lawn neighborhood, this building offers easy access to retail amenities and public transportation. The property boasts a total building size of 10,800 square feet and sits on a 0.25-acre lot. Each of the twelve units features two bedrooms and one bathroom, providing spacious and appealing living spaces for tenants. Recent unit updates enhance the property's attractiveness and contribute to its strong rental potential. The current in-place cap rate is 10.58%, with a cash return of 19.59%. However, with strategic lease improvements and rent adjustments to market rates, the potential exists to significantly increase the cap rate to over 14% and the cash return to nearly 36%. This presents a rare chance to acquire a well-maintained multifamily building with a proven track record and substantial upside potential in a thriving Chicago neighborhood. The historically low vacancy rate further underscores the property's strong performance and desirability. This is an ideal investment for those seeking a high-yield, multifamily asset in a prime location.