19
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$800,000
Est. payment /mo
Active
1515 S Drake Avenue Chicago, IL 60623
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Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12359387
Year Built 1915
Annual Tax Amount $3,598
Tax Year 2023
Lot Dimensions 25X125
Property Sub-Type Multi Family 5+
Property Description
Legal 6-Unit | Fully Rehabbed | 10+ Cap Rate Incredible cash-flowing 6-unit building in North Lawndale, fully gut rehabbed and professionally managed. All units feature in-unit washer/dryer, hardwood floors throughout, and brand new kitchens and bathrooms. Current unit mix: (1) 4 bed / 2 bath, (1) 3 bed / 2 bath, (3) 2 bed / 1 bath, (1) 1 bed / 1 bath. scheduled rent: 113,268 annually. Estimated expenses at 25. Cap rate over 10 with stable tenants already in place. Located minutes from the 7B 1901 Project and near Douglass Park, Cinespace Studios, and Mt. Sinai Hospital. Ideal long-term hold with strong appreciation potential.
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Finished
Interior
Cooling Central Air
Fireplace N
Exterior
Utilities Available Sewer Connected, Water Available, Other
View Y/N true
Building
Structure Type Brick
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Listed by Benyamin Lalez • Compass