1338 South Springfield Avenue
1338 South Springfield Avenue
$510,000
15
6
—
—
—
Closed 9/19/23
Description
Welcome to this fantastic 10% cap investment opportunity! This brick 6-unit building is a gem for any savvy investor. Situated in a desirable location, this property promises a stable income source and incredible potential for long-term growth. The current tenants are from the Chicago Housing Authority (CHA), ensuring consistent occupancy and reliable rental income. Each unit within this well-maintained building offers a host of attractive features. Hardwood floors throughout provide a timeless and...Welcome to this fantastic 10% cap investment opportunity! This brick 6-unit building is a gem for any savvy investor. Situated in a desirable location, this property promises a stable income source and incredible potential for long-term growth. The current tenants are from the Chicago Housing Authority (CHA), ensuring consistent occupancy and reliable rental income. Each unit within this well-maintained building offers a host of attractive features. Hardwood floors throughout provide a timeless and elegant touch, while gas forced air heating ensures comfort and efficiency. The convenience of separate utilities adds to the appeal, making it easier to manage expenses and optimize profitability. The entire building has undergone a thorough gut rehab with meticulous attention to detail, supported by approved plans and permits. This reassures the buyer of the quality and durability of the property, minimizing maintenance and renovation costs in the foreseeable future. With a thoughtfully designed layout, the building comprises three units with 3 bedrooms and 1 bath, and three units with 2 bedrooms and 1 bath. This versatile configuration caters to various tenant needs, appealing to a wide range of potential renters. The current property manager, who has been overseeing the building's operations, is willing to continue working with the new owner. This seamless transition process ensures a hassle-free experience for the buyer, allowing them to focus on maximizing returns and enjoying the benefits of their investment. Don't miss out on this incredible opportunity to add a brick 6-unit building to your investment portfolio. With stable CHA tenants and the support of a reliable property manager, this property is poised to deliver long-term success. Schedule a showing today and discover the potential that awaits you!
- Listed by Sagar Shah • YBRS Realty Inc.
Sold By McSully Properties LLC
Property Details for 1338 South Springfield Avenue
Area
CHI - North Lawndale
TownshipWest Chicago
Num Of Parking Spaces0.0
ZoningMULTI
Location
LISTING UPDATED: 09/20/2023 10:58 AM
Property Details for 1338 South Springfield Avenue
Status | Closed |
---|---|
MLS # | 11788774 |
Days on Market | 121 |
Taxes | $4,237 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 1908 |
Lot Size | 0.09 AC / 3,750 SF |
County | Cook County |
Location
Building Information for 1338 South Springfield Avenue
Stories-Residences6Year Built1908Building Size-Lot Size0.09 AC / 3,750 SF
Payment Calculator
$3,136 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1338 South Springfield Avenue
Property History for 1338 South Springfield Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1338 South Springfield Avenue
Taxable ValueLand$5,507Additions$15,492Total$20,999
Tax Record2022$4,334 ($361 / month)
Home Facts
Baths6Total Finished SqFt6,163 SqFtAbove Grade Finished SqFt6,163 SqFtStories3Lot Size4,687 SqFtStyleMulti-Family Res (5+ Units)Year Built1910CountyCOOKAPN16-23-108-029
Schools near 1338 South Springfield Avenue
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Charter - | 10 to 12 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Herzl Elementary School PublicPK to 8 | ||
Manley Career Academy High School Public9 to 12 | ||
YCCS-CCA Academy HS Charter10 to 12 | ||
Frazier Prep Academy Charter Elementary School CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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