9032 S Houston Avenue, Chicago, Cook County, IL, 60617 Chicago IL US

Turn key investment with 12%+ Cap rate Annualized Gross rent multiplier under a 6. With $50k down and market rents at $45,600 annually that's a 30% return on down payment after realistic expenses. Three of the units are large apartments on the 2nd, 3rd, &4th levels have full laundry in each of the kitchen pantry's. 3 units heated by common steam boiler heat. There is a $550 a month "other income" from a space in garden ...that has a forced air heater. Also attic in finished and is roughed in for small kitchen, bath(potential fifth space). This building is priced to sell - there is cashflow income here with hi returns and extra to build reserves and make long-term improvements over time. Location: This block lies in the center of the South Chicago Neighborhood that has just gotten funding for new development along Commercial avenue among other local funding initiatives from local banks(YMCA rebuild/business incubator center, art-scaping on Commercial avenue...etc).. This "pocket" area of Chicago is nicely "boxed" in between the Skyway and the lake keeping it "quietly" to itself to grow and be developed on all the vacant infill lots on these blocks. The area has LOW density due to the hundreds of vacant lots between here and the lake where the former Southworks steel land is for sale and awaiting the next chapter of the community. Grocery 100 paces away at corner, art school, library, six bus routes , 2 metra stops nearby. For transportation: The I90/94 ramp at 91st is 2 minutes, 6 bus routes hit the corner 100 steps away, the area Library, Grocery and Sky Art art school are all at the corner. Perfect commuter location. Metra a few blocks, and shopping district. This Tall frame building with over 5000 sf of interior space gives you square footage to grow over time. Apartment Summary: Small garden space(on grade level) for your manager? (currently collects $550 a month). Unit on 2nd floor offers a Large two bed and den unit. Unit on 3rd is Three bed apartment. Unit on 4th is a 3 bed 1 bath with small stair to potential duplex up to attic with 2 exits. Or just another space with amenities. All units have pantry's laundry ready in unit . The building is on grade - 4 levels above ground(raised sidewalks) . Large yard due to 140' oversized lot. 2 Car garage in back(needs tlc). Many improvements, several updates but cosmetic wear and tear on units so TLC on cosmetics needed at some point as units turn over. Ie. Kitchens done in 2014, baths 2014-17. Conventional loans and cash buyers preferred. No Fha, No Naca. Best financing - a 203k fha loan encouraged and perfect to do minor cosmetics and have this locked in as a many year winner! Find out more about this property. Request details here