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$ 775,000
Est. payment /mo
Active
3229 Commercial AVE South Chicago Heights, IL 60411
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12513857
Year Built 1969
Annual Tax Amount $9,910
Tax Year 2023
Lot Dimensions 50x125
Property Sub-Type Multi Family 5+
Property Description
Don't miss this incredible fully leased investment opportunity! This hard to find 7 unit building is over an 8 cap at the list price. No deferred maintenance and below market rents combine to create tremendous value add potential. With seven total units rent increases to market value and further increases over time will have an exponential effect on value. All of the apartments are desirable 2 bedroom units with a spacious family room. Coin op laundry and storage are available in the basement. One apartment has just been updated with quartz counter tops, new appliances and bathroom fixtures (rented immediately!). Other updates include new windows, new appliances, new exterior lighting and the fire safety system has been updated. New 10 year smoke and CO detectors were just installed. Low to no vacancy history. Restaurants, national retailers and the Jewel grocery store are all within walking distance make renting apartments a breeze. There are 7 onsite parking spaces and unrestricted on street parking. Don't wait, opportunities like this don't come often!
Location
State IL
County Cook
Area South Chicago Heights
Zoning MULTI
Rooms
Basement Unfinished
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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Listed by Charles Kirkwood of Coldwell Banker Real Estate Group
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