3400 North Harding AvenueChicago, IL 60618Sale Price: $1,220,000

  • Sale Price: $1,220,000
  • 344 Days Since Sale
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Federal 30-year interest rate: 6.95% last updated on Jun 13, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 0.1Acreage
  • 1927Year Built

Listing Tools

Where else can you find a 7 unit, brick building on an oversized 35' wide lot, currently price at a 7.1 cap/10.3GRM and will naturally increase to over an 8 cap in less than 3 months as tenants agreed upon rents increase. Located at the prime corner of Harding and Roscoe in the heart of Avondale, walking distance to public transportation, easily accessible to the CTA blue line and 90/94. This building features a mix of one and two-bedroom apartments, generating $9,450/month in rental income. The building is expected to increase the rents to over $10,500/month by the fall once the current leases cycle up to market rates. All apartments feature central heat, a laundry facility in the basement, and additional storage closets. Additionally, there is unfinished space that could be duplexed into an existing unit or turned into another apartment, providing even more rental income potential. In the last 18 months the building has had a brand new tear off rubber roof, tuck-pointing, new concrete and drainage installed, a brand new tandem parking pad, new furnaces in 3 apartments, brand new plumbing and electric installed in the basement and rehabbed apartment, a brand new laundry facility, new windows where needed, a partial update of the bathroom and kitchen in the garden apartment. There is still plenty of upside to add value to the remaining apartments and increase rents further. Look no further than 3400 N. Harding, this is an optimal turnkey ready investment property to add to any existing portfolio or for any neighborhood investor wanting to safely invest their money!

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Listed by Joseph Kotoch of Compass

Listing Sold by Fitzgerald Real Estate Inc.

Based on information submitted to MRED  as of June 18, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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