6522 South Vernon Avenue

Chicago, IL 60637

$545,000
Last Sold Price
10
Beds
8
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

6522 s. Vernon is an eight (8) unit walk-up building in the Woodlawn neighborhood of Chicago's South Side. The property sits on tree lined street and is located only two (2) blocks south of the King Drive "El" train stop, which provides tenants with direct, affordable, and easy access to Chicago's downtown. 6522 S. Vernon is conveniently comprised of two (2) 2Bd/1Ba and six (6) 1Bd/1Ba units.. Each unit features a spacious layout with hardwood floors, an abundance of natural light, and updated kitchens...6522 s. Vernon is an eight (8) unit walk-up building in the Woodlawn neighborhood of Chicago's South Side. The property sits on tree lined street and is located only two (2) blocks south of the King Drive "El" train stop, which provides tenants with direct, affordable, and easy access to Chicago's downtown. 6522 S. Vernon is conveniently comprised of two (2) 2Bd/1Ba and six (6) 1Bd/1Ba units.. Each unit features a spacious layout with hardwood floors, an abundance of natural light, and updated kitchens & baths. Recent improvements to the building include, but are not limited to, in-unit circuit breakers, individual & separate hot water tanks and Thermoflo boilers. 6522 S. Vernon offers an investor the opportunity to acquire a stabilized, cash-flowing asset in one Chicago's most appreciating neighborhoods. From day one, the asset's next owner will realize a cap rate over 10% and a cash return of nearly 19%.. Furthermore, through improved leasing and raising rents to market levels, there is an opportunity for an investor to realize a cap rate of 11.13% and cash return of nearly 23%.
  1. Listed by Aaron Sklar • Kiser Group Realty Inc
  2. Listed by Noah Birk • Kiser Group Realty Inc

Sold By RE/MAX Premier

Property Details for 6522 South Vernon Avenue

Area
CHI - Woodlawn
Num Of Parking Spaces
0.0

Location

Add your commute
LISTING UPDATED: 12/07/2023 06:41 PM

Property Details for 6522 South Vernon Avenue

StatusClosed
MLS #11855662
Days on Market110
Taxes$6,274 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1964
Lot Size0.14 AC / 5,952 SF
CountyCook County

Location

Add your commute

Building Information for 6522 South Vernon Avenue

Stories-Residences8Year Built1964Building Size-Lot Size0.14 AC / 5,952 SF

Payment Calculator

$3,497 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,974

Property Taxes

$523

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6522 South Vernon Avenue

General Information
Location and General Information
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Heat/Ventilation: Baseboard
  • Num of Baths: 8.0
Property/Lot Information
  • Tenant Pays: Electricity, Heat, Hot Water
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 124' X 48'
  • Stories: 2
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 10
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Electric Expense: $593.00
  • Fuel Expense: $.00
  • Gross Income: $88,860.00
  • Gross Scheduled Income: $84,417.00
  • Insurance Expense: $3,226.00
  • Maintenance Expense: $1,800.00
  • Manager Expense: $4,221.00
  • Janitor Expense: 1500
  • Total Monthly Income: 7405
  • Net Operating Income: $58,259.00
  • Operating Expense: $26,158.00
  • Other Expense: $1,844.00
  • Trash Expense: $1,500.00
  • Water Sewer Expense: $5,600.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 6
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 6522 South Vernon Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 6522 South Vernon Avenue

Taxable ValueLand$1,610Additions$13,709Total$15,319
Tax Record2022$3,151 ($263 / month)
Home Facts
Stories2Lot Size2,928 SqFtStyleMulti-Family Res (5+ Units)Year Built1964CountyCOOKAPN20-22-216-027

Schools near 6522 South Vernon 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
Dulles Elementary School
PublicPK to 8

Hirsch Metropolitan High School
Public9 to 12

YCCS-Progressive Leadership Acad
Charter10 to 12

CICS Washington Park
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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kiser Group Realty Inc

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 12/07/2023 06:41 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.