Address
400 E 109th Street, Chicago, IL
Price
$ 400,000
Property Attributes
- MLS#11945150
- TypeMulti-Family
- CountyCOOK
- CityChicago
- AreaCHI - Roseland
- NeighborhoodRoseland
- Zip60628
- Style
- Year Built1962
- Taxes$ 3245
- Price$ 400,000
- Bedrooms3
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Midwest Real Estate Data (MRED)
Property Description
400 E. 109th is a six (6) unit walk-up located in Chicago's historic Pullman neighborhood. The building sits on the corner of a quiet, tree-lined street across from the premier Gwendolyn Brooks College Preparatory campus and two (2) blocks north of Palmer Park, which features sporting facilities, a fitness center, and an outdoor swimming pool. 400 E. 109th St has an incredibly desirable unit mix comprised of five (5) 2bd/1ba units and one (1) 1b/1ba garden apartment. Each unit features hardwood floors and spacious floorplans with an over-sized great room and a large eat-in kitchen. Recent improvements to the building include, but are not limited to: copper plumbing, updated electric, and with an abundance of masonry and tuckpointing. The building also features onsite laundry facilities as well as five (5) parking spaces in the rear. 400 E. 109th St. presents an investor with a unique opportunity to acquire an incredibly strong, positive cash flowing asset with an in place cap rate of over 9%. Furthermore, solely through light apartment upgrades, and bringing the rents to levels already being achieved, a new owner has the ability to achieve a cap rate of over 10% and a cash return over 18.37%.
| Price History | |
|---|---|
| 5/2/2024 | Listed $400,000 |
General Features
| Year Built | 1962 |
|---|---|
| Tenant Pays | Electricity |
| Stories | 3 |
| Tax Year | 2022 |
| Gross Income | 64680 |
| County | Cook |
| Net Operating Income | 40505 |
| Operating Expense | 21941 |
| Insurance Expense | 2200 |
| Property Type | Commercial Sale |
| MaintenanceExpense | 2000 |
| Status | Active |
| Directions | From 111th St,turn north on King Dr,then right on 109th St. Property is located on the NE corner of 109th/King |
| City | Chicago |
| Total Units | 6 |
| MLS Area | CHI - Roseland |
| Street Name | 109th |
| Tax Annual Amount | 3245 |
| Electric Expense | 412 |
| Fuel Expense | 4744 |
| Trash Expense | 1324 |
| Water Sewer Expense | 1993 |
| Additional Parcels Y/N | No |
| Days on Market | 145 |
| Standard Status | Active |
| Property Type | Multi Family 5+ |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Lot Dimensions | 43' X 125' |
|---|
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 60628
Price
Taxes
Visits
Year Built
