$1,100,000 $5,905 est/mo Sourced by Back At You

1807 N Lawndale Avenue,Chicago, IL 60647

Chicago IL, 60647

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Description

Exceptionally well-located legal 4 unit steps to 606 trail, 1 mile to Healy Metra, 1.5 miles to California Blue line, and everything Logan. Currently a 6.6 Cap at asking price. Offers multiple investment objectives as investor or end user. Unit mix offers (1) 3 bedroom 1 bath and (3) 2 bedroom 1 bath. Individual gas forced heat and central air, separate hot water tanks, newer kitchens and baths, hardwood floors, huge yard and in unit laundry make these units very desirable. Current Gross Monthly Income $7,400.00; Annual Income is currently $88,800 with increasing the rents at the next lease renewals, the building should be grossing closer to $105,600. Current Net Operating Income is about $73,000. Property was completely gut rehabbed with plans and permits about 11 years ago and is fully stabilized with 3 leases expiring June, July and August 2024 and 1 unit MTM providing an opportunity to increase rents. At lease renewals, rents should be: Unit G $1,800 Unit 1 $2,350 with a garage parking space Unit 2 $2,350 with a garage parking space Unit 3 $2,300. Total Monthly goes from current amount of $7,400 to $8,800; Taking the yearly gross to $105,600 and the NOI to $90,000; making this an 8 cap. Zoning Certificate shows 4 units. Don't miss out on this money maker and make your appointment today.

Details

MLS#12004857
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1888
Days On Site67
Listing Provided ByAdonis Realty LLC | Anthony Macias

Features

Bed(s)9
Bath(s)4
Garage2
BasementY
ZoningMULTI

Market Activity 60647

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Learn More About This Property

StateIL
CountyCook
CityChicago
Zip Code60647
AreaCHI - Logan Square
School DistrictClemente Community Academy Senio
Elementary SchoolDarwin Elementary School
Middle School299
High SchoolClemente Community Academy Senio
Listing VS Median (in 60647)
Price:
$1,100,000
low | high
Med:
$630,000
92.727272727273% of Average
On Site:
67
low | high
Med:
31
100% of Average
Sourced by Back At You
Listing Updated: May 2, 2024 at 11:12:29 AM PDT