1,280 sq ft - MLS# 12402529
Tools & Resources:
Description
This top-floor corner unit features 3 bedrooms and 2 bathrooms, and has been recently renovated. It is fully occupied under a stable two-year lease, making it a strong income-generating asset from day one. The unit's unique layout, partial lake views, and prime location make it an excellent opportunity for investors, especially those targeting University of Chicago student housing demand. A washer and dryer are included in the unit for added convenience. The building offers a range of desirable amenities, including a front desk with door staff, an outdoor pool, a health club, a community room, and storage. Garage parking is also included with the unit. The lease runs from May 15, 2025 to May 15, 2026 at $2,800 per month, and from May 15, 2026 to May 15, 2027 at $2,950 per month. With an existing 8 cap rate and low risk profile, this property presents a solid and promising turnkey investment.
Features
- Property Type: Condo/Townhouse
- Sub Type: Attached Single
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60615
- Year Built: 1978
- Age: 41-50 Years
- Subdivision/Neighborhood: Campus Hyde Park
- School District: 299
- Elementary School: Ray Elementary School
- Middle School: Kenwood Academy High School
- Sq.Ft.: 1,280 sq ft
- Total Rooms: 4
- Bedrooms: 3
- Full Baths: 2
- Garage: 103 Car
- # of Parking Spaces: 103
- Baths: 2
- View: Side(s) of Property
- # Of Days For Bd Apprvl: 15
- Association Fee Includes: Heat, Water, Gas, Parking, Insurance, Security, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal
- Bedrooms Possible: 3
- Construction Materials: Concrete
- Cooling: Wall Unit(s)
- Directions: Located in Hyde Park, just east of S Lake Park Ave on E 55th St. The building is on the north side of the street. Easily accessible from Lake Shore Drive or I-90/94. Near Metra and CTA bus stops.
- East: 1451
- Entry Level: 10
- HOA Fee: 1100
- HOA Frequency: Monthly
- Heating: Natural Gas
- Is Parking Included in Price: Yes
- Living Area Source: Estimated
- Main Type: Residential
- Master Association Fee: No
- Max Pet Weight: 999
- Parking Features: Yes, Attached, Garage
- Pets Allowed: Cats OK, Dogs OK
- Pets Allowed (Y/N): Yes
- Rehab (Y/N): Yes
- Rehab Year: 2025
- Rooms: No additional rooms
- Sewer: Public Sewer
- South: 5500
- Special Service Area: N
- Stories Total: 1
- Tax Annual Amount: 3175.92
- Tax Year: 2023
- Total # Units in Building: 270
- Township: Hyde Park
- Type Attached: Condo
- Water Source: Public
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