8041 Manistee Avenue

    Chicago, IL 60617
    • $649,000
    • STATUS: Active
    • ON SITE: 20 days
    • MLS #: 10327927
    UPDATED: 48 min ago
    $649,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,760
      SQFT
    • $55
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:

    School Ratings & Info

    Description

    Excellent opportunity to own a stabilized 8-unit multifamily property in an OPPORTUNITY ZONE in South Chicago. The property comprises of six large four-bedroom apartments (approx. 1,600 SF each), one three-bedroom apartment (approx. 1,300 SF), and one-bedroom apartment (approx. 860 SF). A new owner can take advantage of a turn-key investment, stable income, strong cash flow (Gross Income: $115,248, NOI: $62,027), and achieve over 10% Cap Rate. Apartments feature open floor plan, good size bedrooms, vinyl floors, white appliances, tile in bathrooms and kitchens, and washer and dryer hookups. Each unit has its own furnace, hot water heater and is separately metered. Tenants pay for heat, gas and electric. The building is conveniently located within blocks of the recently renovated Cheltenham/79th electric Metra station, CTA's 79 bus stop, shopping, restaurants, parks, Lake shore Drive and Lake Michigan.

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    © 2019 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Perotti Group | Compass Real Estate. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than The Perotti Group | Compass Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing broker. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Data last updated: 2019-04-23T21:51:46.257.

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    www.theperottigroup.com/homes/93268380

    8041 Manistee Avenue Chicago, IL 60617

    • Price: $649,000
    • Status: Active
    • Updated: 48 min ago
    • MLS #: 10327927
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    11,760
    SQFT
    $55
    $/SQFT
    1929
    Built
    Neighborhood:
    Chi - South Chicago
    County:
    Cook
    Area:
    Chi - South Chicago
    Property Description
    Excellent opportunity to own a stabilized 8-unit multifamily property in an OPPORTUNITY ZONE in South Chicago. The property comprises of six large four-bedroom apartments (approx. 1,600 SF each), one three-bedroom apartment (approx. 1,300 SF), and one-bedroom apartment (approx. 860 SF). A new owner can take advantage of a turn-key investment, stable income, strong cash flow (Gross Income: $115,248, NOI: $62,027), and achieve over 10% Cap Rate. Apartments feature open floor plan, good size bedrooms, vinyl floors, white appliances, tile in bathrooms and kitchens, and washer and dryer hookups. Each unit has its own furnace, hot water heater and is separately metered. Tenants pay for heat, gas and electric. The building is conveniently located within blocks of the recently renovated Cheltenham/79th electric Metra station, CTA's 79 bus stop, shopping, restaurants, parks, Lake shore Drive and Lake Michigan.
    Exterior Features

    Construction Brick Frontage Access City Street Land Amenities Curbs And GuttersLighting/ExteriorSidewalks Lot Dimensions 75X124 Lot Sq Ft 9300 Number Of Parking Spaces 0

    Interior Features

    Air Conditioning None Basement Description Partially FinishedExterior Access Miscellaneous Inside Inside Corridor/S Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Type7 0 Number Of Bedrooms Unit1 4 Number Of Bedrooms Unit2 3 Number Of Bedrooms Unit3 2 Number Of Bedrooms Unit4 0 Number Of Dishwashers 0 Number Of Disposals 0 Number Of Dryers 0 Number Of Fireplaces 0 Number Of Full Bathrooms Type1 2 Number Of Full Bathrooms Type2 2 Number Of Full Bathrooms Type3 1 Number Of Full Bathrooms Type4 2 Number Of Full Bathrooms Type5 2 Number Of Full Bathrooms Type6 2 Number Of Full Bathrooms Type7 2 Number Of Ranges 0 Number Of Refrigs 0 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 6 Number Of Rooms Unit2 5 Number Of Rooms Unit3 3 Number Of Rooms Unit7 0 Number Of Stories 3 Number Of Units Apt Type1 6 Number Of Units Apt Type2 1 Number Of Units Apt Type3 1 Number Of Units Apt Type4 0 Number Of Units Apt Type5 0 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Number Of Washers 0 Repairs Decor Expense 2500

    Property Features

    Age Older Assessment Includes None Built Before1978 YN Yes Current Use Residential-Multi-Family Electric Expense Source Actual Electrical Service Circuit Breakers Electricity Expense 4734 Expense Year 2018 Exterior Building Type Brick Fuel Expense 1114 Gross Rental Income Amount 115248 Heat Ventilation Central Heat/Indiv ControlsForced AirGas Insurance Expense 1834 Insurance Expense Source Actual Janitor Expense 1651 Miscellaneous Outside CourtyardEnclosed StairsSecurity Lighting Monthly Income Max1 1498 Monthly Income Max2 1250 Monthly Income Max3 675 Net Oper Income Amount 62027 Net Operating Income Year 2019 Number Of Window Ac 0 Other Expense Source Actual Other Expenses 0 Owners Assoc YN No Possession ClosingTenant's Rights Potential Use Residential-Multi-Family Tax Year 2017 Taxes 15110 Tenant Pays ElectricHeatHot WaterVaries By Tenant Total Annual Exp 41696 Total Annual Expense Source Actual Total Annual Income 115248 Total Monthly Income 9604 Township Hyde Park Type Multi Family Courtyard Unincorporated YN No Utilities To Site Sanitary Sewer To SiteWater-MunicipalWater To Site Washer Dryer Lsd YN No Water Expense 4000 Water Expense Source Actual

    Listing information © 2019 Midwest Real Estate Data LLC.
    Listing provided courtesy of Dobreva Commercial Inc.


    © 2019 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Perotti Group | Compass Real Estate. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than The Perotti Group | Compass Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing broker. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Data last updated: 2019-04-23T21:51:46.257.

    Digital Millennium Copyright Act
     
    The Perotti Group | Compass Real Estate
    1643 N Milwaukee
    Chicago IL, 60647