7525 S Kingston, Chicago, IL
Check out this 24 Unit Building in South Shore area of Chicago for only $395,000. Potential to earn over $170,000 per year and 22 percent return. 12 units are 2 beds 1 bath. Other 12 units are 3 beds 1 bath. You can rent 2 beds for $800 per month and 3 beds for 1000 per month. Needs gut rehab. Entire property is vacant. There are comparables that sold in the area for $1,300,000.
Buy and Hold:
- Purchase price $395,000
- Rehab $300,000
- Operating expenses $45,540
- Vacancies/maintenance $38,800
- Rental income $21600 per month $259,200 per year
- Net cash $174,860 per year!
- Cash on cash return of 23 percent!
- Taxes: $22,517
- 7331 S Coles Ave Chicago, IL 60649 6 unit building, $1,875,000 Last Sold Price Feb 14, 2017,
- 7749 S Yates Blvd Chicago, IL 60649 7 unit building $1,550,000 Last Sold Price March 15, 2017
- 3074 E Cheltenham Pl Chicago, IL 60649 27 unit building, $1,305,000 Last Sold Price July 29, 2017
- 2453 E 75th St CHICAGO, IL 60649 16 unit building $875,000 last sold may 12, 2016
Due to the influx of new buyers coming into the market our properties have been going FAST. So act Fast if you’re interested in any of our properties. This one will go Fast!
The first one with a signed contract and earnest money gets the deal.
- Buyer pays ALL closing cost
- Buyer will receive taxes prorated to 100 percent and free and clear title
- Realtors add whatever fee you want
- Proof of funds required for viewing
- Please do your own due diligence.
We Pay Referrals Fees! So, if you know someone that would be interested in this deal please forward this email to them.
Do you need money? We have lenders ready to lend. Call us for more details.