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Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12318365
Year Built 1932
Annual Tax Amount $14,600
Tax Year 2023
Lot Dimensions 0.2ACRES
Property Sub-Type Multi Family 5+
Property Description
1619 E. 70th represents a turn-key investment opportunity in the desirable Jackson Park Highlands neighborhood. The building consists of seven units: six 2-bedroom, 1-bathroom apartments and a garden studio. It also has a 1-car garage that has been consistently rented for over four years. In 2021, the Property underwent an extensive gut renovation, including updates to all building mechanicals, common areas, and systems, with permits and a certificate of occupancy issued by the City of Chicago. Each unit is equipped with central heating and air conditioning, with tenants responsible for their own gas and electric utilities. Additionally, on-site coin laundry provides additional income. 1619 E. 70th is a five-minute walk from the Stony Island Metra stop, offering a seamless 20-minute commute into downtown Chicago. This Property offers a straightforward investment opportunity with projected cash-on-cash returns that are realistic as all major capital improvements are complete. Your management effort is simply keeping the building leased and keeping pace with market rent increases. -- BROKER OWNED --
Location
State IL
County Cook
Zoning MULTI
Interior
Fireplace N
Exterior
View Y/N true
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Listed by Dragos Morar • ROOFSPY LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
2600 S. Michigan Ave., STE 102, Chicago, IL, 60616, United States