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    7542 S Colfax Avenue

    Chicago, IL 60649
    • $425,000
    • STATUS: Active
    • ON SITE: 42 days
    • MLS #: 11188329
    UPDATED: 61 min ago
    $425,000
    • 9
      BEDS
    • 0.08
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1926
    County:

    School Ratings & Info

    School District:
    299

    Description

    7452 S. Colfax is comprised of (3) 3bd 1ba units boasting approximately 1500 sf of living space. All of the units and building was completed renovated in 2016/2017. All of the in-unit improvements included, but limited to: Kitchen Cabinets, granite Counter Tops & Mosaic Tile Backsplashes, New Engineered Hardwood Floors, Brush Nickel Faucets. GE Appliances, Bathrooms, light fixtures, and ceiling fans. The capital improvements include, but not limited to: new electrical service with GFCI's, plumbing, new windows, HVAC, trim, doors, new porches (2021), and more! This fantastic 3-flat provides an investor the opportunity to acquire their first property or a seasoned investor who wants to add more units with low-density and grow their exiting portfolio. There are two CHA tenants currently in the renting, where CHA pays 100% of the rent. The third tenant is market. The current Gross Scheduled Rent income is $42,600, but in this listing, an estimated 5% vacancy/credit loss is taken into consideration which brings the Gross Operating Income to $40,470. The second option is to purchase this property as an owner-occupied buyer and take advantage of the rents from the other units to cover your mortgage and then some! **NOTE** This property can also be purchased with 7656 S. Colfax (same owner) MLS#1118340 . Call listing agent for more details on all opportunities.

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2021-09-23T23:01:15.743 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    7542 S Colfax Avenue Chicago, IL 60649

    • Price: $425,000
    • Status: Active
    • Updated: 61 min ago
    • MLS #: 11188329
    9
    Beds
    0
    Baths
    0
    ½ Baths
    0.08
    Acres
    1926
    Built
    Neighborhood:
    Chi - South Shore
    County:
    Cook
    Area:
    Chi - South Shore
    School District:
    299
    Property Description
    7452 S. Colfax is comprised of (3) 3bd 1ba units boasting approximately 1500 sf of living space. All of the units and building was completed renovated in 2016/2017. All of the in-unit improvements included, but limited to: Kitchen Cabinets, granite Counter Tops & Mosaic Tile Backsplashes, New Engineered Hardwood Floors, Brush Nickel Faucets. GE Appliances, Bathrooms, light fixtures, and ceiling fans. The capital improvements include, but not limited to: new electrical service with GFCI's, plumbing, new windows, HVAC, trim, doors, new porches (2021), and more! This fantastic 3-flat provides an investor the opportunity to acquire their first property or a seasoned investor who wants to add more units with low-density and grow their exiting portfolio. There are two CHA tenants currently in the renting, where CHA pays 100% of the rent. The third tenant is market. The current Gross Scheduled Rent income is $42,600, but in this listing, an estimated 5% vacancy/credit loss is taken into consideration which brings the Gross Operating Income to $40,470. The second option is to purchase this property as an owner-occupied buyer and take advantage of the rents from the other units to cover your mortgage and then some! **NOTE** This property can also be purchased with 7656 S. Colfax (same owner) MLS#1118340 . Call listing agent for more details on all opportunities.
    Exterior Features

    Exterior Building Type Brick Foundation Details Brick/MortarConcrete Perimeter Lot Size Less Than .25 Acre Multi Family Type 3 Flat3 Story Unit/S Parking Space/S Parking Onsite Yes Parking Ownership Owned Parking Total 3 Roof RubberFlat Waterfront YN No

    Interior Features

    Basement Unfinished Basement Details Full Bedrooms Below Grade 0 Bedrooms Total 9 Full Baths In Building 3 Half Baths In Building 0 Heating Natural GasForced Air Rooms Total 18

    Property Features

    Age 91-100 Years Built Before1978 YN Yes Corporate Limits Chicago General Information None Gross Income 40470 Insurance Expense 2636 Maintenance Expense 975 Net Operating Income 25448 New Construction YN No Ownership Fee Simple Rebuilt YN No Rehab Year 2017 Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 5407.3 Tax Year 2020 Total Numberof Unitsin Building 3 Total Rental Income 42600 Township Hyde Park Type Two To Four Units Water Source Lake Michigan Zoning Multi

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Re/Max Next.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2021-09-23T23:01:15.743 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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