Flood zone per the FEMA National Flood Hazard Layer; transit and park distances are approximate straight-line. Verify flood status with FEMA and current service with the CTA / Metra.
Attention Investors! This Is A Solid Brick Legal 4-Unit Plus An Additional Garden Apartment On A Double Lot In Harvey. The Unit Mix Includes Three 2-Bedroom And Two 1-Bedroom Apartments. The Roof Is Approximately 10 Years Old, And The Brick Is Solid And In Good Shape. The Building Is All Electric, With 5 Separate Electric Meters And 5 Separate Water Heaters. Tenants Pay Their Own Electric, So Landlord Utility Costs Stay Low. There Is Dedicated Basement Space With Storage Lockers For Tenants, Plus Parking For 4-5 Cars In The Back. Two Units Are Currently Leased At $900 And $1,000 Per Month. Two Units Are Vacant And Ready For New Tenants: The Garden Unit, Previously Leased At $1,400/Month, And A Unit With Market Rent Of Approximately $950/Month. One Additional Unit Can Be Delivered Vacant Before Closing. At Full Occupancy, Projected Gross Income Is Approximately $5,100/Month ($61,200/Year), For A Projected 15.7% Cap Rate And A Projected 33.6% Cash-On-Cash Return (Based On 25% Down At 7.5% Interest). This Is A True Value-Add Opportunity To Stabilize The Building And Grow Your Cash Flow. Rent Roll And Expense Estimates Available Upon Request. Sold Strictly As-Is. Bring Your Investors And Your Vision!