6212 N Sacramento AVE new Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60659
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 5,913 sqft
Price per Sqft $142
MLS Listing ID 12493688
Year Built 1929
Annual Tax Amount $10,905
Tax Year 2023
Lot Size 3,920 Sqft
Lot Dimensions 33 x 123
Property Sub-Type Multi Family 5+
Property Description
This all brick, 6-unit building is an investor's dream! There are three front facing units and three rear facing units. All units consist of 2-bedroom, 1-bathroom units. Each unit is quaint and cozy with several large windows that welcome natural sunlight, a formal living room, a spacious kitchen, two large bedrooms with ample closet space and a bathroom. Additionally, each unit is on a forced air system for heat and each unit has window A/C units for air conditioning. Tenants are responsible for gas and electricity and each unit is individually metered. More importantly, all rents are currently underpriced and all tenants are on month-to-month leases. Right now, the average rental price is about $1,045 per month, which comes out to $75,300 in gross rental income per year. However, the true market rent is easily $1,650 per month, which comes out to $118,800 in gross rental income per year. In short, rents can easily be increased by 50% or more, which will easily add about $25,000 per year in gross rental income to your bottom-line. These units do need a cosmetic refresh and some mechanical work. In addition to all of that, the area is excellent, which translates into a very strong rental market and, hence, low vacancies. There have been many recent upgrades too; namely, the porch was built in 2012; the hot water tank is about 5 years old; two furnaces are about 2 years old; the roof was silver coated in 2022; and, a couple windows were replaced. This building is also nestled in between the Kennedy and the Lake, and it is minutes away from Target, Home Depot, Aldi, restaurants, parks, transportation and much more! This is also an as-is, where-is sale. A must see! A 10!
Location
State IL
County Cook
Area Chi - West Ridge
Zoning MULTI
Rooms
Basement Unfinished
Interior
Cooling Wall Sleeve,Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick