Commercial: Multi Family 5+ - MLS# 12270550
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Description
Prime Multi-Family Investment Opportunity in Little Village, Chicago Discover this well-maintained multi-family building located in the heart of Chicago's vibrant Little Village neighborhood. Offering a blend of modern updates and strong rental upside potential. Property Highlights: Individual Heat & Water Heaters: Each unit comes equipped with its own furnace heating system and water heater, providing tenants with control over their utilities and reducing owner expenses. Modern Electrical Systems: The units have been recently upgraded with new wiring, ensuring a safe and reliable electrical setup for all residents to code. Updated Kitchens & Baths: Every unit features contemporary kitchens and bathrooms, complete with modern fixtures, cabinetry, and finishes, making the apartments highly desirable to tenants. Strong Rental Upside: With the improvements already in place and the growing demand in this bustling area, there is significant potential for rental rate increases, offering an attractive return on investment. Located in Little Village, a community known for its rich culture, dining, and shopping options, this building is perfectly positioned to capitalize on the neighborhood's ongoing growth. With easy access to public transportation, parks, and schools, this property offers a prime opportunity to own in one of Chicago's most dynamic areas. A high-performing asset with both immediate cash flow and long-term value appreciation!
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60623
- Year Built: 1908
- Stories: 3
- Units: 6 units
- Approximate Age: Older
- Built Before 1978 (Y/N): Yes
- Cap Rate: 8.25
- Directions: Start at the intersection of W Roosevelt Rd and S Homan Ave. Head S on S Homan Ave to 2318 S Homan Ave, which will be on the left
- Electric Expense: 500
- Expense Year: 2024
- Fuel Expense: 500
- Gross Income: 85800
- Gross Rent Multiplier: 8.45
- Gross Scheduled Income: 82800
- Heat/Ventilation: Central Bldg Heat
- Indoor Parking: 1-5 Spaces
- Information: 48-Hr Notice Required
- Insurance Expense: 4650
- Janitor Expense: 1800
- Main Type: Commercial Sale
- Maintenance Expense: 2500
- Operating Expense: 25228
- Other Expense: 1500
- Tax Annual Amount: 6118
- Tax Year: 2023
- Total Monthly Income: 7200
- Trash Expense: 3084
- Water Sewer Expense: 1800
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