5635 W Iowa Street, Chicago, Illinois 60651
- $770,000
- Sold Price
- $770,000
- List Price
- $770,000
- Closing Date
- Nov 15, 2023
- MLS#
- 11788199
- Status
- CLOSED
- Type
- Commercial
- Subtype
- Commercial Sale
- County
- Cook
- City
- Chicago
- Gross Rental Income
- 110928
- Neighborhood
- South Austin
- Days On Market
- 151
Property Description
Welcome to this exceptional opportunity to own a charming brick 8-unit property situated on a highly desirable block. This well-maintained building boasts an impressive array of features that make it a solid 10% cap investment for any discerning buyer. Comprising a total of eight 2-bedroom and 1-bathroom units, this property offers spacious and comfortable living spaces for tenants. The units have been meticulously cared for, showcasing the pride and dedication of the current owner. The interiors feature beautiful hardwood floors throughout, creating a warm and inviting atmosphere. The gas forced air system ensures efficient heating, while the separate utilities provide convenience and ease of management. All occupied units are occupied by CHA tenants. This arrangement guarantees a consistent and reliable monthly income. The CHA program provides secure rental payments and a steady source of income for property owners. One of the standout features of this property is the dedicated and reliable management team that is willing to stay on board for the new owner. This continuity ensures a seamless transition and peace of mind for those looking to invest in this property. Situated on a great block, this property enjoys a convenient and sought-after location. Residents have easy access to amenities, including shopping centers, restaurants, parks, and public transportation options. The surrounding neighborhood is known for its vibrant community and friendly atmosphere. Don't miss out on this incredible opportunity to acquire a well-maintained 8-unit brick property with stable CHA tenants and a strong rental history. Whether you're an experienced investor or a first-time buyer, this property offers the perfect combination of stability and future prospects. Act quickly, as properties like this do not stay on the market for long. Schedule your showing today and seize the chance to own this fantastic investment property.
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Additional Information
- Tax Year
- 2021
- Tax Amount
- $9,338
- Year Built
- 1915
- Lot Dimensions
- 50X130
- Air Conditioning
- None
Mortgage Calculator
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Selling Office: RE/MAX 10.
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