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6 Flat Chi Avondale Chicago IL Mf Investment

City: CHICAGO ZIP: 60618

Built In: 1886

Lot Dimensions: 24X123

Detailed Listing Description

Huge heart of Logan Square legal 6 unit moneymaker. Property features (3) two bedroom simplexes, (1) one bedroom loft, (1) four bedroom duplex, and (1) two bedroom live/work triplex. All units feature refinished hardwood floors, updated kitchens and baths, separate gas heaters and hot water tanks, but no a/c or laundry. Great value add opportunity. Over 7000 sf of rented space in 3-1/2 story all brick front building and single story all brick rear coach house. Nets over 100K as is for cap rate of 8.3% with plenty of room for growth. Positive cash flow from day one. Property is fully leased to excellent tenants through 2019. Low expenses. Many recent capital improvements such as new roofs, tuckpointing, electric service. Great location just two blocks from the Blue Line entrance and the epicenter of all of the hot Logan Square action keeps these units in demand. Excellent cash flow in booming area. Agent owned.

Additional Property Details

Comparative Data

Zip Code Comparison: 60618

Listings in this Zip Code average: 2 to 3 units, and are priced at $481,048 to $587,571
This listing is 22% more than other 6 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Avondale

Listings in this Neighborhood average: 2 to 3 units,

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Listing Agent: Rick Renzetti
Listing Office: FOMO Homes Inc.

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