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Key Details
Sold Price $355,000
Property Type Multi 2-4 Units
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 11045649
Sold Date 08/20/21
Bedrooms 3
Year Built 1935
Annual Tax Amount $3,558
Tax Year 2019
Lot Size 3,484 Sqft
Lot Dimensions 25 X 150
Property Description
Finally, a multi-unit unit building that makes sense! There are two options here. First, house hack, which means live in one unit and rent out the other units. If you house hack then you will almost live for free or you will make money every month depending on the situation. Second, keep it as a pure investment play. The first floor, rear apartment features one bedroom and it is already rented for $1,000 per month on a month-to-month lease. The second floor apartment features two bedrooms, a formal living room, a dining room and a rear bonus room, which can also be used as a third bedroom. The second floor unit is presently rented for $1,500 per month through November 30, 2022. These two apartments already bring in $2,500 per month in rental income. Like clockwork. FHA/VA, conventional and cash buyers are welcome! Go with FHA financing for an approximate mortgage payment of $1,978 per month based on a selling price of $350,000 with a 3.5% down payment (or $12,250) at a 2.5% interest rate as well as a $3,558 annual property tax bill, a $100 per month insurance premium and a $247 per month mortgage insurance payment. Or, go with conventional financing for an approximate mortgage payment of $1,682 per month based on a selling price of $350,000 with a 15% down payment (or $52,500) at a 3% interest rate as well as a $3,558 annual property tax bill, a $100 per month insurance premium and a $32 per month mortgage insurance payment. Please discuss financing options with your loan officer. On a final note, this property does not have a garage but there is ample street parking; there is also no basement and, hence, no flooding issues. This is an excellent investment opportunity in an excellent area! Very low taxes even without a homeowner's exemption! A must see. A 10!
Location
State IL
County Cook
Area Chi - Jefferson Park
Zoning MULTI
Rooms
Basement None
Interior
Heating Steam, Baseboard, Radiant
Equipment CO Detectors
Fireplace N
Exterior
Exterior Feature Deck
Community Features Park, Tennis Court(s), Curbs, Sidewalks, Street Lights, Street Paved
Waterfront false
Roof Type Asphalt,Flat
Building
Sewer Public Sewer
Water Lake Michigan
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Paul de Luca • eXp Realty, LLC