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Sara Latta-Young

saralattayoung@gmail.com +1(815) 685-5090

$ 350,000

Est. payment | -/mo

5,000 SqFt

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$ 350,000

Est. payment | -/mo

Save

5,000 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 5,000 sqft

Price per Sqft $70

MLS Listing ID 12802371

Year Built 1925

Annual Tax Amount $19,334

Tax Year 2025

Lot Size 5,662 Sqft

Lot Dimensions 5846

Property Sub-Type Multi Family 5+

Property Description

Pursuant to short sale; subject to lender approval. 7-unit brick multifamily in Chicago Heights, offered at $350,000 ($50,000 per unit) well below fair market value. Unit mix is three 3BR/1BA, two 2BR/1BA and two 1BR/1BA. Four of seven units currently pay rent, totaling $5,150/month, a 7.14% cap rate on current collections. One unit is vacant and two are occupied but not currently paying. With all seven units leased at market rent ($9,300/month), pro forma NOI is $68,315, a 19.52% cap rate at list price. Each unit has its own gas forced-air furnace and gas meter, and tenants pay heat. Detached two-car garage on a separate PIN, concrete drive and fenced yard. Current annual tax bill is $9,619. Full offering memorandum with rent roll, financials and comps available on request.

Location

State IL

County Cook

Area Chicago Heights

Zoning OTHER

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Others

HOA Fee Include None

Listed by Michael Scanlon of eXp Realty

NEARBY PROPERTIES

+1(815) 685-5090

saralattayoung@gmail.com

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201 E 25th ST Chicago Heights, IL 60411