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4 Flat 3270 Armitage Chi Logan Square Chicago I

City: CHICAGO ZIP: 60647

Built In: U

Lot Size: Oversized Chicago Lot

Lot Dimensions: 50 X 150

# of Units: 4

Unit 1 Floor 1: 2 bedrooms 1 baths $1200

Unit 2 Floor 2: 2 bedrooms 1 baths $1200

Unit 3 Floor 1: 2 bedrooms 1 baths $975

Unit 4 Floor 2: 2 bedrooms 1 baths $1000

Gross Income $52,500

Net Op. Income $36,880

Detailed Listing Description

Popular Logan square brick investment opportunity available! 4 unit+unfinished garden/in law unit. The property sits on an extra wide lot and comprised of 4 two bedroom one bathroom units and a full basement, with potential to duplex! Current rents are low and under market, new owner could purchase and increase rents to market with no further capital investment. Concrete pad in the rear of the building to provide ample parking for tenants and additional income. Within walking distance to the 606, Divvy bike station, popular bars, restaurants and CTA bus stops. The Logan square neighborhood has seen a tremendous amount of population growth with many tenants relocating to this booming neighborhood!

Additional Property Details

Garage & Parking
  • ParkingSpace/s,
  • Number of Parking Spaces6
  • Parking on SiteYes
  • Parking OwnershipB
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3Electric, Gas, Heat,
  • Tenant Pays Unit 4Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator,
  • Appliances Unit 2Stove, Refrigerator,
  • Appliances Unit 3Stove, Refrigerator,
  • Appliances Unit 4Stove, Refrigerator,
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60647

Listings in this Zip Code average: 2 to 3 units, and are priced at $518,344 to $620,208
This listing is 25% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Logan Square

Listings in this Neighborhood average: 2 to 3 units, with average prices of $537,114 to $693,159
This listing is 35% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $52,500 Monthly $4,375
Rental Income Stabilized : Annual $76,872 Monthly $6,406
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$849,0004$212,2503.81%16.170.75%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,375$6,406
Year Total$52,500$76,872
Expense
Total$20,151$20,151
Net Operating Income$32,349$56,721
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $10273 $28444 $38717 $3227
Total         $10,273 $28,444 $38,717   $-6,368 $10,273 $3,905
Stabilized         $10,273 $28,444 $38,717   $18,004 $10,273 $28,277
Custom         $10273 $28444 $38717   $18004 $10273 $28277




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1636,7503,2278392,3888392,3883,227
2635,9113,2278422,3851,6824,7726,454
3635,0683,2278452,3822,5277,1549,681
4634,2233,2278492,3783,3769,53212,908
5633,3743,2278522,3754,22811,90716,135
6632,5223,2278552,3725,08314,27919,362
7631,6673,2278582,3695,94116,64822,589
8630,8093,2278612,3666,80219,01425,816
9629,9483,2278652,3627,66721,37629,043
10629,0833,2278682,3598,53523,73532,270
11628,2153,2278712,3569,40626,09135,497
12627,3443,2278742,35310,28128,44338,724
13626,4693,2278782,34911,15830,79341,951

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Listing Agent: Weston Harding
Listing Office: X Plus Real Estate
3257 N Sheffield #101 Chicago

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