P I L S E N 6-FLAT FOR SALE
2312 West 21st St.,Chicago, Illinois 60608
(Just east of Western, west of Damen, 2 way street)
COME GET YOUR 6 FLAT IN RED HOT PILSEN
FIRST TIME ON THE MARKET IN 40 YEARS!---SIX UNITS
Great investment opportunity in a terrific neighborhood!
Well maintained property with three 2-bedrooms and three one-bedrooms.
FIVE of the six units are very nicely rehabbed, the sixth one in decent condition, all have separate heat, 2R has actual AC.
The fourth level has the front half finished with a vacant studio
The rest is semi-finished--this could be a large seventh unit, rear deck is also FOUR stories.
Most mechanicals have been updated including plumbing, electrical, heating, hot water tanks, tuckpointing.
The roof is in good condition as well.
The rents are currently below market, cap rate at 4.3. 4 tenants are M-T-M, two are on leases.
Two car garage will also add additional income.
There is room to improve. Owner constantly gets requests from the locals to rent there as well.
At pro-forma numbers a cap rate of about 9.8 is possible with the existing units
OR about 10.3 if the fourth level is made into an additional unit.
TWO CAR GARAGE
RT-4 ZONING
3096 SF lot (per the county 24X129
About 3900 building square feet
Low---2024 TAXES---$8650
VERY ACCESSIBLE LOCATION
Only half a block to the PINK LINE!
10 MINUTES TO EISENHOWER OR THE STEVENSON
Right by Petes Market and Harrison Park, easy access to the Loop
Close to lots of shopping and restaurants and a lot more