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$ 178,000
Est. payment /mo
Active
317 E 116th ST Chicago, IL 60628
UPDATED:
12/21/2024 07:41 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12255340
Maintenance Fees $1,149
Year Built 1902
Annual Tax Amount $2,832
Tax Year 2022
Lot Dimensions 25X178
Property Description
Amazing Cash Flow Opportunity: Two Investment Buildings for the Price of One in the Hot West Pullman Area! Don't miss out on this incredible investment opportunity in the rapidly growing West Pullman neighborhood! This property offers two buildings for the price of one, making it an ideal project for savvy investors or rehabbers. With owner financing available, this is a fantastic chance to secure a property with great potential. The front building has suffered fire damage and requires significant work, including a gut rehab of two of its four units and a new roof. However, with the right investment, this building has the potential to generate substantial rental income. The second building on the property is in rentable condition with two units already available. This provides immediate cash flow while you work on completing the rehab of the front building. The owner is willing to consider a down payment of $20,000 and will extend the loan balance for up to 12 months to allow the buyer ample time to finish the necessary work on the front building. The best estimates suggest that approximately $60,000 will be needed to complete the renovations, including the new roof and updating the units to a marketable standard. The owner is confident that once the renovations are completed and the apartments are rented, this property could easily sell for more than $300,000. This is a prime opportunity to invest in a property with enormous potential for appreciation. Whether you are looking for a long-term investment or a project to rehab and flip, this property offers great value. Act fast-this kind of opportunity doesn't come around often!
Location
State IL
County Cook
Area Chi - West Pullman
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 2
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Tatyana Kukso • Realty Advisors Elite LLC