2435 S California Boulevard
Chicago, IL 60623

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Description

Large brick 6-unit overlooking California Boulevard. In place 7% CAP rate with rental upside. Plus potential to add 2 more garden units with existing city approved plans conveyed in price. Great corner building with 3 full floor units, plus a coach house with 3 additional units. The property was gut renovated in 2017 and still has a great value add opportunity through bringing rents to market. The modern units feature granite, hardwood, central forced air HVAC, dishwashers, in-unit W/D and spacious bedrooms and bathrooms. Long time professional property management is willing to stay in place making this a true turn key investment in a rapidly appreciating sub market.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60623
• Year Built: 1904
• Sq.Ft.: 6,225 sq ft
• Stories: 3
• Units: 6 units
• Basement: Unfinished, Exterior Entry
• Lot Size: 3049 sq ft lot
• Zoning: MULTI
• # Of Dishwashers: 6
• # Of Dryers: 6
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Washers: 6
• Approximate Age: New Rehab
• Building Area Total: 6225
• Built Before 1978 (Y/N): Yes
• Cap Rate: 7
• Construction Materials: Brick, Stone
• Cooling: Central Air, Central Individual
• Directions: 24th & California - East to Washtenaw, West on 24th Pl to 2435.
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 975
• Electric Expense Source: Actual
• Fire Protection: Smoke or Fire Protectors
• Foundation Details: Block, Brick/Mortar
• Fuel Expense Source: Actual
• Gross Income: 114240
• Gross Rent Multiplier: 10.5
• Heat/Ventilation: Forced Air, Gas
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 5000
• Insurance Expense Source: Combination
• Janitor Expense: 1200
• Lot Size Square Feet: 2910
• Main Type: Commercial Sale
• Maintenance Expense: 3000
• Manager Expense: 5426
• Manager Expense Source: CO
• Misc Outside: Balcony/ies, Enclosed Porch, Enclosed Stairs, Security Gate, Other
• Operating Expense: 23130
• Outdoor Parking: None On Site, Other
• Repairs-Decor Expense Source: Combination
• Roof: Composition, Rubber
• Roof Structure: Flat, Pitched
• Tax Annual Amount: 14168
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
• Total Annual Expense Source: Actual
• Total Monthly Income: 9520
• Township: West Chicago
• Trash Expense: 4000
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Utilities: Sewer Connected, Water Available
• Water Expense Source: Actual
• Water Sewer Expense: 3529
• Water Source: Municipal Water