$450,000 Calculate Payment
7627 S Phillips Avenue Chicago, IL 60649
General Commercial Residence
0.16 Acre Lot
Welcome to Chicago's famous South Shore neighborhood! South Shore is one of hottest neighborhoods for investors in the entire nation! This beautiful 6-unit cash flow machine has plenty of upside and includes a bonus garden apartment for a total of 7 units! This building also includes a brick 6-car g...arage! Each unit has 2 bedrooms and 1 bath, the garden apartment is 1 bed, 1 bath. Each 2-bedroom unit can rent for up to $1,300 per month for CHA/Section 8 voucher holders and the garden apartment can rent for up to $1,145 per month for CHA/Section 8 voucher holders, that's $8,945 per month in total monthly rental revenue! Plenty of equity available at this purchase price for improvements. Based on renovated comparable sales from the past 12 months the After-Repair-Value of this property is approximately $527,000! 6 of the 7 units are occupied. This building has been poorly managed and we are currently working with the seller to obtain updated financials. For the right buyer with experience and the right execution strategy this is a true winner! Please act swiftly as this opportunity will not last long! Only available to show during announced showing times. Showing times will be announced soon! Updated rent roll will also be available soon! Please email agent to be added to the list for showing time updates. We are working to schedule showings at this property and expect to have a date set soon for as early as Tuesday, December 1. We will confirm a firm date and time as soon as possible! We will have full financial statements available at that time, as well. Continue reading
Exterior / Lot Features
6 Parking Spaces.
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Example seller's savings based on a total commission of 3.99% vs. a traditional 6%. It is subject to change based on agreement between seller and agent. More