1264 S Saint Louis Avenue
Chicago, IL 60623

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Description

Exceptionally Maintained and Upgraded 6-Unit Multi-Family Investment Property in Homan Square Discover a turnkey investment opportunity in the heart of Homan Square. This well-maintained 6-unit building has been extensively updated to provide long-term stability, reduced maintenance costs, and strong income potential. Major improvements were completed in 2020, including a new roof and porch, along with upgraded plumbing, HVAC systems, and electricals throughout the building. Additional recent upgrades include a newly installed concrete parking pad in the rear, a modern glass front entry door for enhanced security, and fresh tuckpointing completed this year. Each apartment has been refreshed with new paint and beautifully refinished hardwood floors. Bathrooms and appliances were upgraded this year, and two new water heaters have been added for improved efficiency. The roof has also been professionally resealed. Residents are responsible for their own electric and gas, keeping operating expenses low for the owner. Whether you're an experienced investor or entering the multi-family market for the first time, this property offers outstanding income potential and long-term value

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60623
• Year Built: 1906
• Sq.Ft.: 5,900 sq ft
• Stories: 3
• Units: 6 units
• Basement: Unfinished
• Lot Size: 0.78 acres
• Zoning: MULTI
• # Of Refrigs: 6
• Approximate Age: Older
• Building Area Total: 5900
• Building Unit Info: Fire Alarm, Smoke/Alarm Detector
• Built Before 1978 (Y/N): Yes
• Cap Rate: 11
• Construction Materials: Brick, Wood, Block
• Cooling: Window Unit(s)
• Directions: Homan Ave. to Roosevelt W to St Louis.
• Electric: Circuit Breakers, Service - 201 to 600 Amps
• Electric Expense: 504
• Electric Expense Source: Broker Projection
• Fire Protection: Smoke or Fire Protectors
• Foundation Details: Brick/Mortar, Concrete Perimeter
• Fuel Expense Source: Actual
• Gross Income: 111000
• Gross Rent Multiplier: 5.93
• Gross Scheduled Income: 111000
• Heat/Ventilation: Forced Air, Gas, Separate Per Unit
• Information: 24-Hr Notice Required, List Broker Must Accompany
• Insurance Expense: 1800
• Insurance Expense Source: Combination
• Janitor Expense: 1080
• Location: In City Limits
• Lot Size Source: County Records
• Lot Size Square Feet: 3375
• Main Type: Commercial Sale
• Maintenance Expense: 3600
• Manager Expense: 4300
• Manager Expense Source: CO
• Misc Outside: Balcony/ies, Enclosed Porch, Enclosed Stairs, Storms and Screens (as exist)
• Operating Expense: 23986
• Other Expense Source: Actual
• Outdoor Parking: Paved, Private Lot, Parking On-Site
• Ownership Type: Limited Liability Corp
• Repairs-Decor Expense Source: Owner Projection
• Roof: Reflective Coating
• Roof Structure: Flat, Wood Joists
• Tax Annual Amount: 4271
• Tax Year: 2023
• Tenant Pays: Electricity
• Total Annual Expense Source: Broker Projection
• Total Monthly Income: 7600
• Trash Expense: 1920
• Trash Expense Source: Actual
• Utilities: Sewer Connected
• Water Expense Source: Broker Projection
• Water Sewer Expense: 3600
• Water Source: Municipal Water