3-Flat for Sale. Big upside. Little work needed.

[Ryan Wewerka]

4624 N Springfield Ave, Chicago, IL 60625 

This is an easy deal in growing Albany Park neighborhood of Chicago. There are many 'players' buying in this neighborhood and pushing rents & property values. This opportunity is a good play for both a stabilize and flip, rent and cash flow, or house-hack investor. 

The siding has been completely replaced, including new insulation, there is a new roof, newer windows, a new water heater, and the units were renovated in 2007. Very little work needs to be done. 

Unit Mix: (1) 1-bedroom / 1-bathroom, (1) two-bedroom / two-bathroom, and (1) three-bedroom / one-bathroom.

All of the units are month-to-month leases and rent well-below market. If you bring the rents up to market rates, you will be at an 11.85%+ cash-on-cash return (assuming 25% down payment with 4.25% interest & 30yr am). If you manage the property yourself and/or don't hire a leasing agent and remove the vacancy factor of 3%, this number will go up.

Asking price is $350,000.

Feel free to reach out for more information or to schedule a tour.