$370,000
$370,000
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9026 S Laflin ST Chicago, IL 60620
8 Beds
4 Baths
6,534 Sqft Lot
Key Details
Sold Price $370,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
Subdivision Brainerd
MLS Listing ID 10838117
Sold Date 12/11/20
Bedrooms 8
Maintenance Fees $800
Year Built 1950
Annual Tax Amount $5,115
Tax Year 2019
Lot Size 6,534 Sqft
Lot Dimensions 50' X 124.7'
Property Description
* 9.02% In Place Cap Rate * Gross Income (w/ 5% vacancy)- $48,837 * NOI - $33,380 Kiser Group is pleased to exclusively offer for purchase 9026 S. Laflin, a four (4) unit walk-up building located in the Brainerd neighborhood of Chicago's south west side. This asset has been meticulously maintained, and has served as a family heirloom for several decades. Conveniently, the property sits just three (3) blocks from the Brainerd Metra Station and is also situated less than one mile from Chicago's renowned Beverly Country Club. 9026 S. Laflin is solely comprised of beautiful and spacious 2b/1ba units. All of which contain, both, a separate living room and separate dining room adjacent to the kitchen. All of the tenants are long term with average tenancy exceeding 10 years. The units have been updated with newer kitchens and baths, and all are heated via individual furnaces. Recent capital improvements to the building consist of, but not limited to: newer (and individual) hot water tanks, updated furnaces, masonry and tuckpointing, as well as roof maintenance. Additionally, the building is equipped with a laundry facility in the lower level along with individual tenant storage rooms. The building also features a parking lot in the back large enough for five (5) vehicles. 9026 S. Laflin provides an investor with a rare opportunity to acquire a stabilized, strong cash flowing asset in Chicago's desirable pocket of Brainerd. From day one, a new owner will inherit and capitalize on an incredibly strong and long term tenant base with exceptionally low expenses. With no gas bill and the City of Chicago responsibly for garbage pickup, a new owner will realize an in place cap rate of 9% with an opportunity to achieve a pro forma cap rate of nearly 11% by raising rents to
Location
State IL
County Cook
Area Chi - Washington Heights
Rooms
Basement Full
Interior
Heating Forced Air, Indv Controls
Fireplace N
Building
Sewer Public Sewer
Water Public
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 Walter Rice • WTR Family Realty, LLC