Logan Square Off Market 2 flat $425

[Jim Gramata]

Here is an off market property that came across my desk this morning I wanted to post to BP. My initial numbers puts this around a 7 CAP if the rental projections are supported. 3800 West so western edge of LS. Description: Off market multi-unit investment property listed at 425K with incredible return and cash flow potential! Gut rehabbed in 2014: New electrical, plumbing, roof, hardwood floors, marble, windows, siding, new landscaping, new sewer line, and enclosed porch. New mechanical system, and electrical panel 1st unit is a 1800 sq ft. 3 bed/ 2 duplex down. Rental price $1,850-vacant 2nd unit is large duplex up 2 bed/1 bath plus den or option for 3rd bedroom–Rented at $1,495 All units have central air, washer/dryer, and stainless steel appliances Tenant pays all utilities. Building electric: $422.24 ($35.19/ month) Building heat: $827.51 (68.96/month) Water: $1,200 year Repairs: Est $500-$1000 per year per unit depending on building age/condition Insurance: Est. $200/month Lawn and snow care: Est. $500 per year per city lot Not going to be listed on the MLS until March 2017 Taxes: 2015- $5,157.25 Lot size: 125 x 25 I'm not representing the sellers as broker on this one. No coop commission