Here is your next investment in hot Pilsen. This Brick 5 Unit is in Great condition with $76,800 current gross annual income and a 9.6 GRM (and those rents are below market value ~500). This is turn key and also has value add possibilities. In 2013 a lot of improvements were made. The building has improved roof, kitchen cabinets, floors, walls, baths etc. The building is well managed all term leases and screened tenants. What more can you ask for : The building offers you immediate cashflow with additional high returns from expandable spaces without a lot of deferred maintenance! Future value add summary: As units turnover you can add laundry into the units and raise rents another $150?+ a unit, and expand into the tall-ceiling empty basements that have two exits by upgrading the spaces(and gain ~$1500+ additional a month)... Also, for extra rent, consider installing of a parking pad for another $600 income a month from 3 parking spaces on the 124' x 124.2' lot?. The current ROI is only the beginning of what is possible here for the saavy owner!!! There are 6 Upgraded electric panels (and new drop with permits). Work done in 2013..... The property has 2 Buildings connected by an enclosed frame porch in good condition (so it looks like one) and there is an additional frame porch in back. The Front building has 2 units: One 2 bed One 3 bed. Both units in front have HVAC and are updated. The back brick building has 3 units: Three 2 bed units with forced air furnaces and window ac units. Note: Top unit in rear has cathedral ceilings and you could potentially vault the the front buildings top unit ceilings in the future since there is an empty 7' attic above the front top unit......Lower levels. Empty basement with several windows and 2 exits under front building, as stated above, has 8' headroom ready for additional useable finished "storage" space for additional ~$1500 income..... There is an Additional opportunity next door. The lot next door is also for sale for $199,900. There IS AN OFFER on the lot with a cash buyer now ready to go so you can buy the 5 unit alone or both. We assume you will be buying the 5 unit only but if you want to buy the lot with the building you should include that in a separate offer and explain how you will pay for it. If you make a offer on building and lot combined We would like to see a 60% LTV reflected on any offers with proof of funds.... Or, pay for the land in separate cash deal. Showings at set times. Text me for them. Easy to show several times a week. Come see it an make an offer... let's get you this cashflow now.
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