Property Overview (1851 S Harding Ave, Chicago, IL 60623)
Status
Sold
Price
$520,000
Number of Units
4
Rental Income
$6300 / month
Lot Size
7000 sq ft
Neighborhood
North Lawndale
1851 S Harding Avenue
Chicago, Illinois 60623
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Albert Realty Advisors presents for sale, a 4-unit condo building (portfolio) in Chicago’s North Lawndale community. This is an exceptional, fully turn-key investment opportunity producing $70,000 in gross income. In-place Cap Rate of 10%. Cash-on-Cash Return of 17%.
Why invest in apartment units when you could acquire superior quality condo finishes and amenities such as: individual central heating & A/C units, in-unit laundry, individual hot water tanks, laminate and vinyl flooring, and gated off-street parking.
Top three floors are jumbo, 2,000 SF units with 3-beds and 2-bath floor plans, and 9-foot high ceilings. Lower level unit is 1,000 SF with 3-beds and 1-bath. Total rentable space of 7,000 SF across all units. Virtual 3D tour is available for viewing online.
This is a low maintenance building with updated mechanical systems: HVAC, electrical and plumbing. New owner can keep condominium units or convert to apartment units in future.
Fully occupied building with three market-rate tenants and one Section-8 tenant. New tenant is soon to move into top floor unit. Tenants pay gas and electric utilities.
Financing options are conventional financing and cash. FHA won’t qualify.
Location
Transit Convenience Overview
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Additional Info
- Parcel ID: 16-23-309-050-1001-1002; -1003; -1004
- Property Tax: 3772
- Year Built: 1923
- Basement: Finished Unit
- Heating / Cooling: Individual, Gas-Forced Air
Monthly Mortgage Payments
