8058 South Hermitage Avenue

8058 South Hermitage Avenue | Chicago, IL 60620

Kiser Group is pleased to exclusively offer for purchase 8058 S. Hermitage Ave, a nineteen (19) unit building located in the historic Auburn Gresham neighborhood of Chicago’s South Side. The property is ideally situated near Foster Park as well as numerous public transportation options, including both the 79th St. and Ashland Ave. bus lines. 8058 S. Hermitage is comprised of six (6) 2Bd/1Ba, ten (10) 1Bd/1Ba, and three (3) studios, all of which feature modern kitchens and baths. Recent capital improvements to the building include, but are not limited to, a new Peerless Boiler (2024), new hot water tanks (2022), a complete tear-off roof (2020), and an on-site laundry facility. 8058 S. Hermitage presents an investor with the opportunity to acquire a stabilized, cash-flowing asset in Chicago’s Auburn Gresham neighborhood. From day one, a new operator will realize a cap rate of 10.23% and a cash return over 18%. Furthermore, through improved leasing and raising rents to current market rates, an investor could achieve a cap rate of nearly 12% and cash return over 24%.