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$ 349,900
Est. payment /mo
Active
5005 W Chicago Avenue Chicago, IL 60651
5 Beds
UPDATED:
11/15/2024 03:27 AM
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12196671
Bedrooms 5
Year Built 1898
Tax Year 2023
Lot Dimensions 3150
Property Description
Massive Equity Opportunity in South Austin! This is an ideal chance for both owner-occupants and investors with a potential cap rate of 7-9% to build instant equity in a rapidly appreciating neighborhood. This spacious 2-unit property, with a bonus non-conforming basement, has huge potential. Major updates have been completed, including a brand new tear-off roof, siding, water heaters, plumbing, and furnaces, leaving only cosmetic updates and appliances for you to add value and create built-in equity. The main level unit features 3 bedrooms, a spacious living room, separate dining room, and sizable kitchen, while the upper level offers 2 bedrooms, a large walk-in closet, and great storage. Live in one unit and rent the other, plus the basement with 2 bedrooms and a full bathroom, for even more income opportunities. Owner-occupants benefit from a $20,000 forgivable grant, requiring just $1,000 to close, with options to layer additional grants through your preferred lender. Note: Certain areas may need finishing touches, making it ideal for buyers ready to customize and maximize value. Located in the heart of South Austin's thriving market, this property is in a transforming neighborhood with rising home values and strong equity growth. Don't miss this high-potential opportunity-schedule your tour today!
Location
State IL
County Cook
Community Park, Sidewalks, Street Paved
Rooms
Basement Full
Interior
Heating Natural Gas, Forced Air, Sep Heating Systems - 2+
Fireplace N
Exterior
Exterior Feature Deck
View Y/N true
Building
Sewer Public Sewer
Water Lake Michigan, Public
New Construction false
Schools
Elementary Schools Nash Elementary School
Middle Schools Nash Elementary School
High Schools Marshall Metropolitan High Schoo
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Amy Wu • Keller Williams Success Realty