8038 Maryland Avenue, Chatham, Chicago, Illinois 60619
$384,900
|
For Sale
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| Status: | Active |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 6 |
| Baths: | 0 |
| Year Built: | 1923 |
| Property Taxes: | $5,627 |
| Lot Size: | 0,09 |
Description
Investor opportunity in the heart of Chatham! This fully occupied 3-unit building offers immediate income with additional long-term upside for the savvy buy-and-hold investor. Each unit features a functional 2-bedroom layout, while residents are responsible for their own gas and electric-an attractive setup for operating efficiency. Individual furnaces and water heaters serve each unit, providing added convenience and control. Additional income growth already underway through a pending CHA rent increase. With comparable 2-bedroom rents in the area supporting higher rental potential, the next owner has an opportunity to continue strengthening the building's income over time. Outside, a 3-car masonry garage adds valuable off-street parking and additional appeal for tenants. Unfinished basement offers additional value-add potential, including the possibility of a future additional unit, subject to zoning and City approval. Conveniently located near transportation, shopping, and neighborhood amenities, this is an opportunity to acquire an occupied multifamily asset with existing cash flow, separate tenant-paid utilities, and room for future income growth. Add this Chatham 3-unit to your portfolio and let your investment work from day one.
Property Specifics
| Multi-unit | |
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| 1923 | |
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| No | |
| 0.09 |
| Cook | |
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| — / — | |
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| 12747083 | |
| 20351070230000 |
Room Specifics
Total Bedrooms: 6
Bedrooms Above Ground: 6
Bedrooms Below Ground: 0
Dimensions: —
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Full Bathrooms: 3
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: —
Other Specifics
| 3 | |
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| 30x125x30x125 | |
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| Not in DB | |
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Listing Provided By
Keller Williams ONEChicago
