Updated almost 9 years ago on . Most recent reply
Cashflowing $24K/Year in Chicago 60609 - Asking $29K - ARV $160K
The Best Wholesale Real Estate Deals in Illinois
Property Address: 5256 S Marshfield Ave, Chicago, IL 60609
Asking Price: $29,900
ARV: $160,000
Type: 4 Units Brick Multi-Family
- Front up - 2 bed - 1 bath $480
- Front down - 2 bed - 1 bath $475
- Back up- 1bed 1 bath $450
- Back down - 2 (small) beds - 1 bath $475
Garage: 2 Car Detached
Lot Size: 3,125 sqft
Great of Cashflow in this deal. Could return your investment in less than 2 years of owning this property. 3 of the 4 units are currently rented below market value with good long term tenants (Been there for over 7 years) paying $1,400 per month.
The forth unit is vacant and ready for you to repair it and rent it for market value ($800 - $900/month).
This property is priced to sell, with ARV over $160,000 there is enough equity to rehab, 100% refinance and hold this deal and cash flow.
Drive by without disturbing tenants, or call/email to schedule a full walk through.
Sold comps are within .5 miles from the subject property and have been sold within the last 6 months.
Here are some 2 Units Comps (Note the subject property is 4 units):
- 235 S Seeley Ave , Chicago, IL 60609 - Sold on 02/2016 for $210K
- 2107 W 50th Pl , Chicago, IL 60609 - Sold on 07/2016 for $144K
- 5022 S Loomis Blvd , Chicago, IL 60609 - Sold on 03/2016 for $140K
This is a wholesale deal. Do your due diligence before making an offer.
- The first one with a signed contract and earnest money gets the deal.
- Buyer pays ALL closing costs. Buyer will receive taxes prorated to 100 percent and free and clear title
- Please due all your inspections and due diligence up front before contracting.
- Realtors add whatever fee you want.
- Proof of funds required for viewing.
- Do you know someone that would buy this deal please forward this email we do compensate for referrals
- Do you need money? We have lenders ready to lend. Call us for more details