7152 S Emerald Avenue
Chicago, IL 60621

More
Photos »

Tools & Resources:

Description

Stately 6 unit apartment building for sale in emerging Englewood. The property is fully rented and cash flowing, and is currently operating at a 10 + CAP rate. The property underwent an extensive rehab with numerous updates including new kitchens, updated bathrooms, updated roof, refinished hardwood flooring, new lights, new laundry room and much more. This building has an excellent unit mix with 3 x 2 bedrooms and 3 x 3 bedrooms. All major mechanicals are updated including plumbing, individual furnaces and hot water tanks, newer electrical panels and wiring. This is a tenant paid utility set up that allows the owner to have very low operating costs. The building is a large corner building with excellent curb appeal. There is an updated common hallway as well as a large area in the back for tenant parking. The building is fully rented and is stable and cash flowing. Perfect arm chair investment opportunity

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60621
• Year Built: 1883
• Sq.Ft.: 7,215 sq ft
• Stories: 3
• Units: 6 units
• Basement: Unfinished
• Zoning: MULTI
• # Of Dryers: 1
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Washers: 1
• Approximate Age: New Rehab
• Building Area Total: 7215
• Built Before 1978 (Y/N): Yes
• Cap Rate: 10.4
• Construction Materials: Brick
• Directions: HALSTED ABOUT ONE BLOCK EAST ON 71st ST, TO EMERALD, S. TO PROPERTY
• Electric: Circuit Breakers, Separate Meters, Service - 201 to 600 Amps
• Electric Expense: 1020
• Electric Expense Source: Combination
• Expense Year: 2025
• Fire Protection: Smoke or Fire Protectors
• Foundation Details: Concrete Perimeter
• Fuel Expense Source: Combination
• Gross Income: 112632
• Gross Rent Multiplier: 6.65
• Gross Scheduled Income: 112632
• Heat/Ventilation: Forced Air, Gas
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 5148
• Insurance Expense Source: Actual
• Janitor Expense: 1800
• Known Encumbrances: First Mortgage
• Land Amenities: Curbs and Gutters, Sidewalks
• Lot Size Square Feet: 7548
• Main Type: Commercial Sale
• Maintenance Expense: 1800
• Manager Expense: 5652
• Manager Expense Source: CO
• Misc Inside: Laundry Room
• Operating Expense: 27252
• Other Expense: 6072
• Other Expense Source: Combination
• Outdoor Parking: 6-12 Spaces
• Ownership Type: Limited Liability Corp
• Repairs-Decor Expense Source: Combination
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 7232
• Tax Year: 2024
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Combination
• Total Monthly Income: 9386
• Trash Expense: 1380
• Trash Expense Source: Actual
• Type Multi-Family: Corridor-Interior Entrance
• Water Expense Source: Combination
• Water Sewer Expense: 3756