Commercial: Multi Family 5+ - MLS# 12599132
Tools & Resources:
Description
Turnkey 6-unit greystone in North Lawndale, directly facing a public park, offering a 9-cap rate with clear upside in rents. Fully gut renovated just three years ago with new electrical, plumbing, HVAC, roof, and modern finishes throughout. Units feature updated kitchens with laminate countertops, stainless steel appliances, renovated baths, and new flooring. The building's prime location offers tenants unobstructed park views, immediate access to green space and recreational amenities, and convenient access to public transportation and neighborhood conveniences. A rare opportunity to acquire a stabilized, income-producing asset with strong growth potential in a rapidly improving submarket.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60623
- Year Built: 1905
- Stories: 3
- Units: 6 units
- Approximate Age: New Rehab
- Built Before 1978 (Y/N): Yes
- Cap Rate: 9
- Cooling: Central Individual
- Directions: Head west to the property from downtown.
- Electric: Circuit Breakers
- Electric Expense: 375
- Electric Expense Source: Broker Projection
- Fuel Expense Source: Actual
- Gross Income: 94800
- Gross Rent Multiplier: 7.6
- Gross Scheduled Income: 94800
- Heat/Ventilation: Forced Air
- Insurance Expense: 5500
- Insurance Expense Source: Broker Projection
- Janitor Expense: 600
- Main Type: Commercial Sale
- Maintenance Expense: 4800
- Manager Expense: 4800
- Manager Expense Source: BP
- Operating Expense: 34364
- Other Expense: 2400
- Other Expense Source: Broker Projection
- Repairs-Decor Expense Source: Broker Projection
- Tax Annual Amount: 10889.07
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
- Total Annual Expense Source: Combination
- Total Monthly Income: 7900
- Trash Expense: 1800
- Trash Expense Source: Broker Projection
- Type Multi-Family: Flats
- Water Expense Source: Broker Projection
- Water Sewer Expense: 3200
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