1338 South Springfield AvenueChicago, IL 60623Sale Price: $510,000

  • Sale Price: $510,000
  • 5 Days Since Sale
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Federal 30-year interest rate: 7.19% last updated on Sep 21, 2023
* 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.
  • 1908Year Built

Listing Tools

Welcome to this fantastic 10% cap investment opportunity! This brick 6-unit building is a gem for any savvy investor. Situated in a desirable location, this property promises a stable income source and incredible potential for long-term growth. The current tenants are from the Chicago Housing Authority (CHA), ensuring consistent occupancy and reliable rental income. Each unit within this well-maintained building offers a host of attractive features. Hardwood floors throughout provide a timeless and elegant touch, while gas forced air heating ensures comfort and efficiency. The convenience of separate utilities adds to the appeal, making it easier to manage expenses and optimize profitability. The entire building has undergone a thorough gut rehab with meticulous attention to detail, supported by approved plans and permits. This reassures the buyer of the quality and durability of the property, minimizing maintenance and renovation costs in the foreseeable future. With a thoughtfully designed layout, the building comprises three units with 3 bedrooms and 1 bath, and three units with 2 bedrooms and 1 bath. This versatile configuration caters to various tenant needs, appealing to a wide range of potential renters. The current property manager, who has been overseeing the building's operations, is willing to continue working with the new owner. This seamless transition process ensures a hassle-free experience for the buyer, allowing them to focus on maximizing returns and enjoying the benefits of their investment. Don't miss out on this incredible opportunity to add a brick 6-unit building to your investment portfolio. With stable CHA tenants and the support of a reliable property manager, this property is poised to deliver long-term success. Schedule a showing today and discover the potential that awaits you!

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Listed by Sagar Shah of YBRS Realty Inc.

Listing Sold by McSully Properties LLC

Based on information submitted to MRED  as of September 23, 2023 . 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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