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Garrett Johnson

homesbygarrett@gmail.com +1(847) 337-1157

$1,190,000

Est. payment - /mo

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12560643

Maintenance Fees $1,600

Year Built 1923

Annual Tax Amount $11,077

Tax Year 2024

Lot Dimensions 3150

Property Sub-Type Multi Family 5+

Property Description

Turnkey 5-Unit Investment | 10 Cap Rate | $140K+ Gross Income | 1:100 Rent-to-Price Hard-to-find combination: a fully gut-rehabbed property generating a 10 in-place cap rate in an upcoming area. The property generates over $140,000 in annual gross income and an approximately 1:100 collected-rent-to-purchase-price ratio, offering investors strong current cash flow from day one. The entire building was completely gut-rehabbed in 2022, including new electrical, plumbing, water lines, gas lines, roof, flooring, walls, kitchens, bathrooms, and appliances. The major capital improvements are already completed, minimizing deferred maintenance and near-term capital expenditure needs. All five units are currently occupied by long-term tenants, with many having renewed multiple times. The property also generates additional income from laundry. For investors, this offers an attractive combination of renovation quality, strong cash flow, stable occupancy, and future upside-without the cost and uncertainty of taking on a major rehab. Properties offering a 10 cap rate after a complete gut rehab are difficult to find. If you are looking for a cash-flowing, turnkey multifamily asset in an emerging area, contact us today for the rent roll, financials, and to schedule a private showing.

Location

State IL

County Cook

Area Chi - Belmont Cragin

Zoning MULTI

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Brick

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Listed by Fei Martin of Berkshire Hathaway HomeServices Chicago

Nearby School & Business

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Garrett Johnson

+1(847) 337-1157

Agent License ID: 475.188206

2159 N Laramie AVE Chicago, IL 60639

Garrett Johnson

Key Details

Location

Interior

Building

Nearby School & Business

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