Harrison Cohen
This listing was posted on RealtyWW.
$1,100,000
E Th St, Chicago, Home For Sale
Price:
$1,100,000
BR/BA:
10+ BR, 6 BA
Location:
636 E 44th St, Chicago, IL
Description:
636 E. 44th St., is a rarely available six (6) unit center entrance building in Chicago's booming Bronzeville neighborhood. This incredible investment is priced to sell at over a 7% cap with strong income from day one. The property sits on an extra-wide corner lot on the southeast corner of 44th Street and Champlain, overlooking Armstrong Park. Conveniently located near the CTA Green Line at 43rd (10-minute walk), numerous bus stops, nearby I-90, and Lake Shore Drive, renters have easy commuting access to downtown. The property comprises (4) 3-bed / 1-bath and (2) 2-bed / 1-bath apartments, offering a balanced mix to cater to a variety of potential renters. The units feature hardwood floors, updated kitchens and bathrooms, and spacious living/dining rooms. In addition to the cosmetic upgrades, the building has newer hot water tanks, a fully re-built boiler, newer windows, well-maintained roof, upgraded common area, stairwells/entryway and lighting. 636 E. 44th St. presents an investor a unique opportunity of a acquiring a stabilized and strong cash-flowing asset in in one of Chicago's most developing and desirable neighborhoods Bronzeville. Upon acquisition, a new owner may capitalize on an incredibly strong and rapidly growing tenant base and realize an in-place cap rate of 7.17%. With ongoing development in the area, there is an opportunity to further add value by bringing rents to increasing market rate levels in existing condition, and/or convert unit 2E into a 3-bed / 1-bath layout or further unlock additional rental income by installing ventless all-in-one washer/dryer combos.For more details: https://realtyww.info/homes_chicago-d523258/for-sale_i75961650
Property Type:
Single-Family Houses
Amenities:
Washer Dryer, Wood Floors
Posted:
September 15 on RealtyWW
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