$130,000
7844 S Greenwood, Chicago, IL 60619
Current Rent **
$2,167
Projected Rent **
N/A
Unit 1 Details
- Current Rent: $1,017
- Bedroom: 3 bd
- Bathroom: 1 ba
- Square Footage: 850 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: No
Unit 2 Details
- Current Rent: $1,150
- Bedroom: 3 bd
- Bathroom: 1 ba
- Square Footage: 850 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: No
Chicago Rented Duplex, 23.5% Projected Returns
Bay Area based investor owns duplexes/triplexes in Chicago, and is selling a couple of them. This property is in a good neighborhood, has an excellent property management company managing it, and is a duplex. Each unit is 3 Bed 1 bath. Both units are currently rented. After financing, the projected returns are around 23.5% cash-on-cash returns, not counting either principal pay down or appreciation.
Owner is selling because he is buying a very large apartment complex and needs cash to invest in that deal.
About the property
• Hardwood floors for low maintenance. Large living room (see pictures).
• Property has had an inspection, and recent repairs made, to prepare for sale.
• Property has demand for it. When the property had a vacant unit, a free posting resulted in 24 leads in 10 days. Seller can verify the leads for buyer.
• The property management company is superb. They are ethical, responsive and pro-active. Really a model property management firm. Their fees are very reasonable at 6% of gross revenues, they do not charge for empty units.
• No current violations with the City. Owner can verify for seller.
• Turnkey providers are selling duplexes in the same area for 175K. Ask Owner for comparables.
The owner is also selling two other properties that he owns in Chicago. The property brochure and some other property info can be found in the links below:
1. 7844 S Greenwood Ave
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/gfxyv14wavtx8uc/AAAEX_0QVyAR0hXguhc5b0JMa?dl=0
2. 1523 E 74th Place
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/78zqksy09aorozz/AAB4ft_sKlfaP6NEhZpq_b1qa?dl=0
3. 253 W 43rd St
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/7r05wzdp3jrqce2/AAD2h8DC13gOP6Ipn8AC27Dra?dl=0
Location:
7844 S Greenwood, Chicago, IL 60619
Report Abuse
* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** 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.
Only paying BiggerPockets members can do this!
Upgrade your account to a Pro membership to finish uploading your listing.
Pro Marketplace Benefits
- List up to 2 properties a day under Real Estate Listing
- Re-port your Real Estate Listing every 5 days
- Create job & buying ads in the Marketplace
Additional Pro Benefits
- Unlimited use & access to Rental Property Calculator
- Over $5,000 worth of discounts in Pro Perks
- Access to 50 states & DC landlord forms
- Forum Keyword Alerts
- And more!