6058 S Massasoit Avenue
Chicago, IL 60638

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Description

6058 S Massasoit Ave is a solid, all-brick 6-unit apartment building located in the highly desirable Midway Clearing/Garfield Ridge area neighborhood. This property offers a reliable investment opportunity with a strong rent roll, generating $5,975 in monthly income and a total of $71,700 annually. The building consists of 3 one bedroom apartments - and 3 two-bedroom apartments. On-site coin-operated laundry facility for added convenience and extra income. The property sits on a quiet, tree-lined street with alley access and ample parking, offering a comfortable residential environment. Midway Clearing/Garfield Ridge, is a stable and well-connected neighborhood, offering close proximity to Midway Airport, I-55, and I-294, as well as CTA bus routes and nearby retail, dining, and recreational options. The area's commuter convenience and family-friendly setting contribute to steady rental demand. With strong income, low operating costs, and bonus revenue from the garage and laundry, this property is an ideal addition to any investor's portfolio. Whether you're expanding your holdings or seeking a dependable, income-producing asset, 6058 S Massasoit delivers long-term value in a high-demand rental market. All Tenants Except Basement Rear Pay Their Own Electric. 4 Units also pay for their Cooking Gas. Landlord pays heat for the whole building & 4 cooking gas accounts. Newer vinyl Windows 2011, 75 Gal HWT replaced 8/2017

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60638
• Year Built: 1927
• Sq.Ft.: 4,943 sq ft
• Stories: 2
• Units: 6 units
• Basement: Finished, Exterior Entry
• Lot Size: 3920 sq ft lot
• Zoning: MULTI
• # Of Dryers: 1
• # Of Washers: 1
• Approximate Age: Older
• Building Area Total: 4943
• Built Before 1978 (Y/N): Yes
• Cap Rate: 8.08
• Construction Materials: Brick
• Directions: 6 BLOCKS WEST OF CENTRAL AVE, TURN WEST ON 61ST INTERSECTION (CENTRAL/61ST ST) TO CORNER MASSASOIT & 61ST ST.
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 768
• Electric Expense Source: Owner Projection
• Expense Year: 2024
• Fuel Expense: 3484
• Fuel Expense Source: Owner Projection
• Gross Income: 71700
• Gross Rent Multiplier: 9.1
• Gross Scheduled Income: 71700
• Heat/Ventilation: Gas, Radiators, Steam, Baseboard
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 4650
• Insurance Expense Source: Owner Projection
• Location: Corner
• Lot Size Square Feet: 3906
• Main Type: Commercial Sale
• Misc Inside: Laundry Room
• Misc Outside: Enclosed Stairs
• Operating Expense: 22871
• Other Expense Source: Owner Projection
• Ownership Type: Individual
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 10428
• Tax Year: 2024
• Tenant Pays: Varies by Tenant
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 6150
• Township: Lake
• Trash Expense: 1765
• Trash Expense Source: Owner Projection
• Type Multi-Family: Flats
• Water Expense Source: Owner Projection
• Water Sewer Expense: 1776