29,760 sq ft;
lot: 7405 sq ft lot
Commercial: Multi Family 5+ - MLS# 12547159
Tools & Resources:
Description
Prime Value-Add investment opportunity in nice South Shore neighborhood. 12-unit m/u property, comprised of (8) 2 Bedroom/1Bath Units, and (4) 3 Bedroom/1 Bath units. Two 6-unit brick buildings, 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: 1929
- Sq.Ft.: 29,760 sq ft
- Stories: 3
- Units: 12 units
- Basement: Unfinished
- Lot Size: 7405 sq ft lot
- Zoning: MULTI
- # Of Dryers: 2
- # Of Ranges: 12
- # Of Refrigs: 12
- # Of Washers: 2
- Additional Parcels: Yes
- Approximate Age: Older
- Building Area Total: 29760
- Built Before 1978 (Y/N): Yes
- Cap Rate: 8
- Construction Materials: Brick
- Cooling: Central Air
- Directions: 75th to Kingston - South to Property.
- Electric: Circuit Breakers
- Electric Expense: 699
- Expense Year: 2025
- Fuel Expense: 1001
- Gross Income: 194640
- Gross Rent Multiplier: 7.02
- Gross Scheduled Income: 194640
- Heat/Ventilation: Forced Air, Gas
- Insurance Expense: 4550
- Janitor Expense: 266
- Main Type: Commercial Sale
- Operating Expense: 79696
- Outdoor Parking: 6-12 Spaces
- Tax Annual Amount: 10162
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Electricity, Heat
- Total Annual Expense Source: Owner Projection
- Total Monthly Income: 16220
- Trash Expense: 478
- Type Multi-Family: Corridor-Interior Entrance
- Virtual Tour Date: 2026-01-14T15:04:01
- Water Sewer Expense: 1285
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