5,200 sq ft
Commercial: Multi Family 5+ - MLS# 12515622
Tools & Resources:
Description
Great income earner in quickly up and coming East Garfield Park. Lots of high-end new construction and renovations going on in the area make this a shrewd investment. Professionally managed, solid brick building with 7 units. Great mix of 2 and 1 bed units along with a spacious garden unit to cap it off. 5 of the 7 units have had significant upgrades and rent has increased with each new tenant. Tenant quality is high as management company requires rigorous screening for all applicants including credit, criminal background checks, income verification and current/former landlord reference. Spacious units include really good bedroom sizes and lots of natural light that long term tenants covet. Easy street parking, laundry in the building and very well kept common areas also help with tenant retention. This is the kind of building that can grow as neighborhood rents and values continue to climb by continuing to update finishes to appeal to higher value tenants.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60612
- Year Built: 1925
- Sq.Ft.: 5,200 sq ft
- Stories: 3
- Units: 7 units
- Approximate Age: Older
- Building Area Total: 5200
- Built Before 1978 (Y/N): Yes
- Cap Rate: 6.11
- Cooling: Window Unit(s)
- Directions: 290 to Sacramento Blvd. North. to Madison West, Albany North then Warren East to property.
- Electric Expense: 844
- Fuel Expense: 8329
- Gross Income: 107220
- Gross Rent Multiplier: 10
- Gross Scheduled Income: 109572
- Heat/Ventilation: Radiators
- Information: Show-Special Instructions
- Insurance Expense: 999
- Janitor Expense: 250
- Main Type: Commercial Sale
- Maintenance Expense: 3455
- Operating Expense: 33210
- Other Expense: 999
- Tax Annual Amount: 8680.05
- Tax Year: 2023
- Tenant Pays: Electricity
- Total Monthly Income: 8935
- Trash Expense: 2230
- Type Multi-Family: Flats
- Virtual Tour Date: 2025-11-11T20:50:19
- Water Sewer Expense: 5050
Contact:
miked@westward360.com
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