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3 Flat 4201 Paulina Chi Lake View Chicago IL Mu

City: CHICAGO ZIP: 60613

Built In: 1961

Lot Size: Less Than .25 Acre

Lot Dimensions: 2370 SQ. FT

# of Units: 3

Unit 1 Floor 1: 4 bedrooms 3 baths $0

Unit 2 Floor 2: 2 bedrooms 2 baths $2000

Unit 3 Floor 3: 2 bedrooms 2 baths $2250

Gross Income $51,000

Detailed Listing Description

ALL NEW CONSTRUCTION THREE FLAT IN BEAUTIFUL RAVENSWOOD. Fantastic location! Close to Irving Park/Montrose Brown line, Southport Corridor, Music Box, Trader Joes, Wrigley Field, Lakefront, park, Montrose Harbor, Lincoln Square, and more. Total gut renovation just completed by RealView, everything is new including mechanicals, windows, all new kitchens and baths, studs, decks and electrical. This is a very rare fee simple row home converted to a 3 flat and consists of two 1100 sqft 2 bed/2 bath units and a 4 bed/3 bath duplex down w/ family room and wet bar. Each unit has its own in unit laundry, HVAC and there is common storage in the basement. Exterior parking for two cars and plentiful street parking. Two units are already rented, a new owner can move into third unit or rent it out. Total current gross income is $51,000 per year making this a fantastic money maker! Tenants pay all utilities so expenses are very low. Small yearly fee for common landscaped courtyard. Great opportunity!

Additional Property Details

Garage & Parking
  • ParkingSpace/s,
  • Number of Parking Spaces2
  • Parking on SiteYes
  • Parking OwnershipOwned
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Central Air Conditioner, Fireplace-Gas, Garage/Space, Laundry Hook-Up, Range Hood, Hardwood Floors,
  • Appliances Unit 2Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Central Air Conditioner, Fireplace-Gas, Laundry Hook-Up, Range Hood, Hardwood Floors,
  • Appliances Unit 3Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Central Air Conditioner, Fireplace-Gas, Garage/Space, Laundry Hook-Up, Range Hood, Hardwood Floors,
Schools
  • Grade SchoolRAVENSWOOD ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolRAVENSWOOD ELEMENTARY SCHOOL
  • Jr High/Middle School District299
  • High SchoolLAKE VIEW HIGH SCHOOL
  • High School District299

Comparative Data

Zip Code Comparison: 60613

Listings in this Zip Code average: 2 to 3 units, and are priced at $750,873 to $1,005,200
This listing is 5% more than other 3 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lake View

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,039,522 to $1,694,786
This listing is 9% more than other 3 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $51,000 Monthly $4,250
Rental Income Stabilized : Annual $57,780 Monthly $4,815
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$950,0003$316,6673.16%18.630.51%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,250$4,815
Year Total$51,000$57,780
Expense
Total$20,980$20,980
Net Operating Income$30,020$36,800
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $11495 $31828 $43323 $3611
Total         $11,495 $31,828 $43,323   $-13,303 $11,495 $-1,808
Stabilized         $11,495 $31,828 $43,323   $-6,523 $11,495 $4,972
Custom         $11495 $31828 $43323   $-6523 $11495 $4972




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1712,5003,6119392,6729392,6723,611
2711,5613,6119432,6681,8825,3407,222
3710,6183,6119462,6652,8288,00510,833
4709,6723,6119502,6613,77810,66614,444
5708,7223,6119532,6584,73113,32418,055
6707,7693,6119572,6545,68815,97821,666
7706,8123,6119602,6516,64818,62925,277
8705,8523,6119642,6477,61221,27628,888
9704,8883,6119682,6438,58023,91932,499
10703,9203,6119712,6409,55126,55936,110
11702,9493,6119752,63610,52629,19539,721
12701,9743,6119792,63211,50531,82743,332
13700,9953,6119822,62912,48734,45646,943

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Irving ParkNearby Neighborhoods X Plus Real Estate

Irving Park

Listing Agent: Sarah Ziehr
Listing Office: Redfin Corporation
4623 N Hermitage Chicago

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