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$ 519,000
Est. payment | /mo
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Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12624199
Maintenance Fees $5,000
Year Built 1935
Annual Tax Amount $8,274
Tax Year 2025
Lot Dimensions 102x301
Property Sub-Type Multi Family 5+
Property Description
Solid 5-unit investment property with all units currently occupied and producing consistent income. The building brings in $5,700/month ($5,425 in rents + $275 from laundry) with a current NOI of $44,250. Rents are below market, giving the next owner a clear opportunity to increase cash flow over time without needing a heavy lift. Major updates already taken care of, including a new roof and a boiler and water heater both under 10 years old, helping limit near-term capital expenses. This is a strong option for an investor looking for a stable, already-performing property with upside still left in it. On-site laundry adds an additional income stream, and the property is straightforward to manage in its current condition. Whether you plan to hold long-term or gradually raise rents and improve returns, there's room to execute your strategy here. Rent roll and financials available in documents.
Location
State IL
County Lake
Area Park City / Waukegan
Zoning COMMR
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by Brandon Aranda of 4 Sale Realty Advantage LLC