1807 N Lawndale AVE Pending Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60647
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 12004857
Bedrooms 9
Year Built 1888
Annual Tax Amount $11,145
Tax Year 2022
Property 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.
Location
State IL
County Cook
Area Chi - Logan Square
Zoning MULTI
Interior
Heating Natural Gas,Forced Air
Equipment Ceiling Fan(s),Multiple Water Heaters
Exterior
Exterior Feature Deck,Porch,Storms/Screens
Garage Detached
Garage Spaces 2.0
Community Features Park,Curbs,Gated,Sidewalks,Street Lights,Street Paved,Other
Waterfront false
Roof Type Asphalt
Building
Lot Description Cul-De-Sac
Dwelling Type Two to Four Units
Sewer Public Sewer
Water Lake Michigan
New Construction false
Schools
Elementary Schools Darwin Elementary School
High Schools Clemente Community Academy Senio
School District 299 ,299, 299
Others
Special Listing Condition List Broker Must Accompany