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$ 1,100,000

Est. payment -/mo

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Pending

1807 N Lawndale AVE Chicago, IL 60647

9 Beds

UPDATED:

08/28/2024 08:04 AM

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

Lot Dimensions 25X125

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

Rooms

Basement Full, Walkout

Interior

Heating Natural Gas, Forced Air

Equipment Ceiling Fan(s), Multiple Water Heaters

Fireplace N

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

Ownership Fee Simple

Special Listing Condition List Broker Must Accompany

Listed by Anthony Macias • Adonis Realty LLC

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