14,880 sq ft;
lot: 7405 sq ft lot
Commercial: Multi Family 5+ - MLS# 12547151
Tools & Resources:
Description
Prime Value-Add investment opportunity in nice South Shore neighborhood. 6-unit m/u property, comprised of (4) 2 Bedroom/1Bath Units and (2) 3 Bedroom/1 Bath units. (Being offered as discounted package with adjacent 6-unit identical building. MLS#12499606) 6-unit brick building, with center entrances front and back, with rear parking. Each unit with large bright living room, 2 or 3 full bedrooms, dining/family room, and separate kitchen with pantry and leading to back enclosed porch. Over half of the apartments have been completely remodeled to leverage higher market rents. New owner can complete rehab of additional units and leverage appreciation of market rents, or easily convert all remaining 2 bedrooms into 3 bedrooms. The opportunity is here to step into cash flow on day one and to also improve overall performance through leasing and management. Conveniently located a short distance from public transportation, including Metra, beautiful Lake Michigan, and surrounded by numerous grocery stores and shops. This multifamily opportunity offers immediate value-add potential from the moment of acquisition.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60649
- Year Built: 1924
- Sq.Ft.: 14,880 sq ft
- Stories: 3
- Units: 6 units
- Basement: Unfinished
- Lot Size: 7405 sq ft lot
- Zoning: MULTI
- # Of Dryers: 2
- # Of Ranges: 6
- # Of Refrigs: 6
- # Of Washers: 2
- Approximate Age: Older
- Building Area Total: 14880
- Built Before 1978 (Y/N): Yes
- Cap Rate: 8
- Construction Materials: Brick
- Cooling: Central Air
- Directions: From 79th head west to Kingston and make a right
- Electric: Circuit Breakers
- Electric Expense: 350
- Expense Year: 2025
- Foundation Details: Brick/Mortar, Concrete Perimeter
- Fuel Expense: 500
- Gross Income: 97320
- Gross Rent Multiplier: 7.02
- Gross Scheduled Income: 97320
- Heat/Ventilation: Central Heat/Indiv Controls
- Insurance Expense: 2275
- Janitor Expense: 200
- Known Encumbrances: None Known
- Land Amenities: Curbs and Gutters, Sidewalks
- Main Type: Commercial Sale
- Misc Outside: Courtyard, Enclosed Porch, Enclosed Stairs, Security Gate, Security System
- Operating Expense: 39848
- Roof Structure: Flat
- Tax Annual Amount: 5081
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Electricity, Heat
- Total Annual Expense Source: Owner Projection
- Total Monthly Income: 8110
- Township: Hyde Park
- Trash Expense: 239
- Type Multi-Family: Courtyard
- Virtual Tour Date: 2026-01-14T14:59:54
- Water Sewer Expense: 642
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