Key Facts
- MLS® #: 12577423
- Property ID: SIRC3186249
- Original Price: USD 500,000
- Property Type: Residential, Other
- Lot Size: 0.12 ac
- Year Built: 1921
- Bedrooms: 5
- Bathrooms: 3
- Listed By:
- David Mahoney
Property Description
Excellent investment opportunity in a desirable Northwest Chicago neighborhood. This fully leased, well-maintained building generates $3,500 per month in gross rental income ($42,000 annually), with an estimated net operating income of $26,613.52 and a current cap rate of approximately 5.32%. With only a modest 10% increase in rents, the cap rate would exceed 6%, presenting strong upside potential. Additional income is generated from the basement coin laundry (one washer and one dryer), producing approximately $400-$500 annually. Recent improvements include a new roof (2019), new front porch (2019), garden unit remodeled (2018), and Unit 1 remodeled (2020). The property features hardwood floors in the first and second floor units, separate furnaces, and separate electric meters. Units #1 and #2 have tenants paying all utilities, while utilities are included in the rent for the garden unit. The building is fully rented with well-screened, reliable tenants, and units are clean and well maintained. Additional highlights include easy street parking, outdoor storage sheds, a large fenced yard with concrete patio, and coin laundry in the basement for supplemental income. Seller makes no representation regarding the legality of the third (garden) unit.
Amenities
- Basement - Finished
- Patio
Listing Agents
- David Mahoney
C. 3124374310
O. 3127510300
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Location
3301 N Ozanam Avenue , Chicago, Illinois, 60634 United States
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Jameson Sotheby's International Realty
425 W North Avenue
Chicago, Illinois, 60610
United States
3127510300
