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$350,000
Est. payment /mo
5,000 SqFt
UPDATED:
Key Details
Property Type Multi 5 Units, Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $70
MLS Listing ID 12802371
Year Built 1925
Annual Tax Amount $19,334
Tax Year 2025
Lot Size 5,662 Sqft
Lot Dimensions 5846
Property Sub-Type Multi Family 5+
Property Description
Pursuant to short sale; subject to lender approval. 7-unit brick multifamily in Chicago Heights, offered at $350,000 ($50,000 per unit) well below fair market value. Unit mix is three 3BR/1BA, two 2BR/1BA and two 1BR/1BA. Four of seven units currently pay rent, totaling $5,150/month, a 7.14% cap rate on current collections. One unit is vacant and two are occupied but not currently paying. With all seven units leased at market rent ($9,300/month), pro forma NOI is $68,315, a 19.52% cap rate at list price. Each unit has its own gas forced-air furnace and gas meter, and tenants pay heat. Detached two-car garage on a separate PIN, concrete drive and fenced yard. Current annual tax bill is $9,619. Full offering memorandum with rent roll, financials and comps available on request.
Location
State IL
County Cook
Area Chicago Heights
Zoning OTHER
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
Others
HOA Fee Include None
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Listed by Michael Scanlon of eXp Realty
NEARBY SCHOOL & BUSINESS
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