5407 S. Indiana Ave is a beautiful six (6) unit apartment building in Chicago's highly coveted Washington Park neighborhood. Situated on a one way, tree-lined street, the building lies just blocks away from George Washington Park and University of Chicago's campus. 5407 S. Indiana has an incredibly desirable unit mix comprised of four (4) 3Bd/1.5Ba and two (2) 4Bd/1.5Ba units. All of which feature spacious layouts with hardwood floors throughout, individual furnaces, and updated kitchens & baths. Furthermore. the building allows for the potential addition of two (2) garden units. Currently, the garden units are non-conforming and in need of renovation, however, one of the two has already been studded and framed out. Recent improvements to building include, but are not limited to, new porches (2020), new windows, copper plumbing, newer roof, and significant masonry/tuckpointing work. 5407 S. Indiana presents an investor with a unique opportunity to purchase an appreciating, rehabbed asset with an in place cap rate of over 7%. Additionally, through improved leasing and management, there is an opportunity to achieve nearly an 8.5% cap rate along with a 12.31% cash return. Furthermore, tremendous value can also be added by finishing out the 7th and 8th units, which would not only increase a new owners NOI, but increase the value of the property
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