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Updated about 7 years ago on . Most recent reply

User Stats

83
Posts
46
Votes
Samuel Liapis
  • Rental Property Investor
  • Chicago, IL
46
Votes |
83
Posts

2 2-3 units or 1 4 unit

Samuel Liapis
  • Rental Property Investor
  • Chicago, IL
Posted

Hello everyone! I currently own a 2 unit building in Melrose Park IL.  The city will not let me rent the basement even if I make it completely legal. The property also came with a 2nd pin for the side lot which nothing can be built on because it is only 26ft wide and their laws state that 33ft is needed. 

My question is this,  judging by the market right now I can sell for about 50-70k profit. Should i get 1 4 unit building or 2 2-3 unit buildings?

I'm leaning towards 2 2-3 units because I believe they will generate higher cash flows. Especially if purchased in Chicago where the rules are more relaxed and I can rent out basements. 

Let me know which you would do.

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