$475,000
3528 W 12th Place Chicago, IL 60623
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$475,000
Est. payment /mo
12 Beds
UPDATED:
11/03/2024 05:01 PM
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12158371
Style Greystone
Bedrooms 12
Year Built 1909
Annual Tax Amount $3,714
Tax Year 2023
Lot Dimensions 25 X 125
Property Description
Attention Investors and Owner-Occupants! This beautiful Greystone 2-Flat w/ a bonus Luxury Garden Unit in North Lawndale is a rare turnkey cash-flow opportunity that won't last! With over 3,500 sq. ft. of living space, this property allows you to live for free while generating substantial rental income. 90% of the improvements have been completed, only 10% remaining! The two main Units each feature four spacious bedrooms and one bathroom, while the sizable Garden Unit boasts four bedrooms, 1 full bathroom, 7ft+ ceilings, and modern updates throughout! All Units offer luxury vinyl flooring, recessed lighting, stainless steel appliances, and updated kitchens with white shaker cabinets. Unit 1 and the Garden Unit have freshly updated bathrooms and are vacant, move-in ready with fresh paint and contemporary finishes. Unit 2 is occupied by a long-standing CHA tenant with a four-bedroom voucher, renting well below market, presenting an immediate rent increase opportunity in 2025. This property is perfect for house-hackers: live in the Garden Unit while renting out the other two. Comparable rents for four-bedroom units in the area reach up to $2,200/month, with Unit 2 capable of yielding $2,000+ with a rent adjustment. With a potential gross income of $6,400 per month, far exceeding the estimated $3,400 for mortgage, taxes, and insurance at a 7% interest rate, you'll enjoy positive cash flow while living mortgage-free! Additional highlights include forced heat, separated utilities, and new water tanks and furnaces in each unit! The fully fenced backyard offers privacy and space for tenant enjoyment or personal use. Located in the rapidly appreciating North Lawndale neighborhood, minutes from I-290, parks, shopping, dining, and public transit, this property is surrounded by growth and opportunity. Comparable properties are selling for upwards of $573,000, and the strong rental market ensures high demand. Don't miss out on this chance to live mortgage-free while building equity. Schedule your showing today!
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Full
Interior
Heating Forced Air
Fireplace N
Exterior
Waterfront false
View Y/N true
Roof Type Rubber
Building
Sewer Public Sewer
Water Public
New Construction false
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Applegate • Straight-A Realty, LLC
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