Listing Broker's property remarks:
GREAT OPPORTUNITY TO OWN A 4 UNIT BUILDING! GREAT LOCATION, FULLY RENTED: GARDEN UNIT 3 BEDROOMS LIVINGROOM, DINIG ROOM, KITCHEN, AND 2 FULL BATHS, 1ST,2ND 3RD UNIT 3BEDROOMS, LIVINGROOM, DINING ROOM, AND FULL BATH, 2 CAR GARGAGE. ALL UNITS PAY THEIR OWN UTILITIES.
Brent Hall +client service notes:
Nice vintage building listed as 4 units but the tax records state 3 units. If the in-law, garden unit isn't legal, that could potentially wipe out $9,600 in gross income annually if the city ever decides to pay a visit. If this is a legal 4 flat, then the investment offers a potential 10% cash on cash return with 20% down (assumes 30% expense ratio). Either way, it's worth digging a little deeper.
2617 W. Rascher Ave. Chicago, IL 60625
Type: Multifamily 4 unit
Lot Size: 25' x 125'
Gross Income: $51,600
Unit 1: 6 room / 3 bed / 2 bath
Unit 2: 6 room / 3 bed / 1 bath
Unit 3: 6 room / 3 bed / 1 bath
Unit 4: 6 room / 3 bed / 1 bath
Neighborhood: Lincoln Squre