$1,249,000
1454 W Fargo Ave, Chicago, IL 60626
Current Rent **
$9,615
Projected Rent **
N/A
8 Unit - All Brick - Chicago - Rogers park
Don’t miss out on this great investment opportunity. Building suited well for both live in owners and non owner occupants. Classic 8 unit brick building located on a beautiful tree lined street with RT-4 zoning. 1st and 3rd floors have three separate 1 bed units. 2nd floor has a spacious 4 bedroom 2 bath unit. Basement has large handicap accessible garden unit. 3 garage parking spots and 5 exterior spots. Common laundry and workshop in the basement. New garage roof 2018, 3 year old boiler, 4 year old hot water heater, new windows 2008, electrical wiring 400 amps, 2” water service, and 3” ceiling insulation. 2 blocks from Jarvis red line CTA and Lake Michigan. Half a mile or 1 red line stop from Gateway Centre Plaza with Jewel Grocery Store. Steps from restaurants, coffee, bars, and more.
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FINANCIAL SUMMARY
Sale price $1,250,000
Price per Unit $156,250
Gross Income $115,380
Operating Expenses $26,146
Net Operating Income $89,234.43
Cap Rate 7.14%
Gross Rent Multiplier 10.83
POTENTIAL VALUE ADD:
-Adding central heat (so that tenants pay heat)
-Adding central AC
-Renovating kitchens and bathrooms
-Add storage in the basement.
Location:
1454 W Fargo Ave, Chicago, IL 60626
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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