5848 W Irving Park Road, Chicago, IL 60634

Active Under Contract

$1,060,000

Share on:
WhatsApp Pinterest Facebook X LinkedIn Email

40 More

44 More

Contact agent

Description

EXCELLENT INVESTMENT OPPORTUNITY IN CHICAGO’S DESIRABLE PORTAGE PARK NEIGHBORHOOD! This well-maintained 6-UNIT BRICK BUILDING offers an attractive 7.48% CAP RATE and a strong combination of current income, desirable unit mix, and significant capital improvements. Built in 1964 and offering approximately 5,786 SQ FT, the property has been cared for by a LONG-TIME OWNER. The building features FIVE 2-BEDROOM / 1-BATH UNITS and ONE 1-BEDROOM / 1-BATH UNIT, with EACH UNIT FEATURING A DEDICATED DINING AREA. The property also includes 5 OFF-STREET PARKING SPACES in the rear-an important convenience for tenants and added value for an investor. Major improvements include REPLACEMENT WINDOWS, roof approximately 6 YEARS OLD ON THE EAST SIDE and 13 YEARS OLD ON THE WEST SIDE, a 6-YEAR-OLD BOILER, and 2-YEAR-OLD WATER HEATER. Interior improvements include 3 RENOVATED BATHROOMS and 1 RENOVATED KITCHEN. Located directly on IRVING PARK ROAD, residents enjoy convenient access to PUBLIC TRANSPORTATION, shopping, restaurants, neighborhood amenities, and nearby PORTAGE PARK. An attractive opportunity for an investor seeking a STABILIZED 6-UNIT PROPERTY WITH A 7.48% CAP RATE, established rental income, off-street parking, and important building improvements already completed. RARE PORTAGE PARK MULTIFAMILY INVESTMENT OPPORTUNITY!