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CHICAGO , IL 60620

8 Beds, 0.0 Bath(s) $289,000

Property Type: MU

Parking: none

Laundry: in-building

Neighborhood: Gresham

School District(s): Jackson, M.

Broker reciprocity copy
Remarks - Each unit has been well kept & updated throughout the years. It has been owner occupied for the last 15 years. Each unit has 2bedrooms and 1bath with a living room & dining room combo. Owner has consistently been able to keep solid tenants. Section 8 has approved $1100 for 2 bedroom vouchers & $890 for 1 bedroom vouchers. Conservatively speaking, this building should cash flow $3600/mo with minimal expenses and the ability to build out 2 garden studio units for additional income. Currently the building is fully occupied with an owner occupant. The Metra is 1 block away, an owner can ride in to downtown very easily! New owner can come in with a basic FHA loan, rent out the garage and have a net cash flow above $1700.00 per month. Again, add $20K to your take home income with this simple 4 unit building after your mortgage. $10K down payment can turn in to $20K extra per year!!!! How is that for an annual raise!!! 2 car garage for extra income as well.

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