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$ 1,190,000
Est. payment /mo
Active
2159 N Laramie AVE Chicago, IL 60639
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12560643
Maintenance Fees $1,600
Year Built 1923
Annual Tax Amount $11,077
Tax Year 2024
Lot Dimensions 3150
Property Sub-Type Multi Family 5+
Property Description
Turnkey 5-Unit Investment | 10 Cap Rate | $140K+ Gross Income | 1:100 Rent-to-Price Hard-to-find combination: a fully gut-rehabbed property generating a 10 in-place cap rate in an upcoming area. The property generates over $140,000 in annual gross income and an approximately 1:100 collected-rent-to-purchase-price ratio, offering investors strong current cash flow from day one. The entire building was completely gut-rehabbed in 2022, including new electrical, plumbing, water lines, gas lines, roof, flooring, walls, kitchens, bathrooms, and appliances. The major capital improvements are already completed, minimizing deferred maintenance and near-term capital expenditure needs. All five units are currently occupied by long-term tenants, with many having renewed multiple times. The property also generates additional income from laundry. For investors, this offers an attractive combination of renovation quality, strong cash flow, stable occupancy, and future upside-without the cost and uncertainty of taking on a major rehab. Properties offering a 10 cap rate after a complete gut rehab are difficult to find. If you are looking for a cash-flowing, turnkey multifamily asset in an emerging area, contact us today for the rent roll, financials, and to schedule a private showing.
Location
State IL
County Cook
Area Chi - Belmont Cragin
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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Listed by Fei Martin of Berkshire Hathaway HomeServices Chicago
NEARBY SCHOOLS & PROPERTIES
Craig Hogan | Rudy Zavala
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