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Listed by Ryan Widerbergof eXp Realty - Chicago North Ave
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Est. payment /mo
8 Beds
6,098 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12800046
Bedrooms 8
Year Built 1959
Annual Tax Amount $11,721
Tax Year 2025
Lot Size 6,098 Sqft
Lot Dimensions 48x127
Property Sub-Type Two to Four Units
Property Description
Attention Investors And Owner-Occupants! This Is A Solid Brick Legal 4-Unit Plus An Additional Garden Apartment On A Double Lot In Harvey. The Unit Mix Includes Three 2-Bedroom And Two 1-Bedroom Apartments. The Roof Is Approximately 10 Years Old, And The Brick Is Solid And In Good Shape. The Building Is All Electric, With 5 Separate Electric Meters And 5 Separate Water Heaters. Tenants Pay Their Own Electric, So Landlord Utility Costs Stay Low. There Is Dedicated Basement Space With Storage Lockers For Tenants, Plus Parking For 4-5 Cars In The Back. Two Units Are Currently Leased At $900 And $1,000 Per Month. Two Units Are Vacant And Ready For New Tenants: The Garden Unit, Previously Leased At $1,400/Month, And A Unit With Market Rent Of Approximately $950/Month. One Additional Unit Can Be Delivered Vacant Before Closing. Perfect Rent Hack Opportunity: Live In One Unit And Let The Rent From The Others Pay Your Mortgage! At Full Occupancy, Projected Gross Income Is Approximately $5,100/Month ($61,200/Year), For A Projected 15.7% Cap Rate And A Projected 33.6% Cash-On-Cash Return (Based On 25% Down At 7.5% Interest). This Is A True Value-Add Opportunity To Stabilize The Building And Grow Your Cash Flow. Rent Roll And Expense Estimates Available Upon Request. Sold Strictly As-Is. Bring Your Investors And Your Vision!
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Partially Finished, Full
Interior
Heating Electric
Fireplace N
Exterior
View Y/N true
Building
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
School District 152, 152, 205
Others
Ownership Fee Simple
Special Listing Condition None
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Joanna Lewkowicz
Designated Managing Broker | Owner Illinois: 471.018027Indiana: RB18001061Florida: BK3514240
+1(708) 963-0011 | joanna@boutiquehomerealty.com