MLS #: 10500730
City: CHICAGO ZIP: 60624
Built In: 1920
Lot Dimensions: 65 X 121
Great investment opportunities for 8-unit all brick apartment building in Humboldt Park, 2 three-bedroom units and 6 two-bedroom units. Potential rent ~ $10600 per month ( pro forma). All units are ready for rehab. Works have been done, including exterior tuckpointing, New roof; Interior majority work of electricity, plumbing, HVAC duck have been done. Extra lots on the backyard for secured parking lots with new Iron gate. Each unit has separate storage space in the basement. Close proximity to Garfield Park Conservatory / schools / public transportation. ARV ~ $800-900k, with rent $10600 per month. Cap rate ~ 18%. Need $200-250k rehab cost. After rehab, cash flow beautifully. After rehab, immediately gain $250-300k profit. Located in Chicago Opportunity Zone. Great for 1031 exchange, withhold a few years, with gains tax free. Sold As-IS condition. Cash buyers only.
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