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Blue Island,IL 60406
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12121318
Maintenance Fees $3,000
Year Built 1969
Annual Tax Amount $13,295
Tax Year 2022
Lot Dimensions 7,179
Property Description
Exceptional Investment Opportunity - 6-Unit Building with Strong Cash Flow and 9.2% Cap Rate! This fully rented 6-unit building presents a unique opportunity for investors seeking steady cash flow and long-term growth potential. It is comprised of five (5) two bed/one bath units and one (1) one bed/one bath unit. Key features include: Currently generating $6,380 per month in rental income; despite half the units priced below market rent. This indicates a significant upside potential for future rent as tenant's turnover. The building has undergone substantial improvements, including recent upgrades to all common areas, units, upgrade to the roof, and other capital expenditures, ensuring reduced maintenance costs and enhanced property value. As an investor, you can immediately enjoy the cash flow without the hassle of initial repairs or tenant placement. This property can be purchased as a package deal along with 12438 Fairview Ave. in Blue Island!
Location
State IL
County Cook
Area Blue Island
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 3