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7830 S Luella Ave
Chicago, IL 60649

7830 S Luella Ave Chicago IL 60649 · Multifamily Property For Sale · 6 Units

Investment Highlights

  • 3rd Bedroom Option
  • Individual Heating
  • Updated water heater, windows and rear porches
  • 50% Occupancy
  • 1500 sqft per unit
  • 2 sunrooms per unit

Executive Summary

Discover a rare investment opportunity with this well-maintained 6-unit building, with the potential to generate an annual income of $100,000 and beyond. Each spacious unit features 2 bedrooms and 1 bath, thoughtfully designed with separate dining and living spaces, both offering access to a front sunroom that floods the space with natural light. Down the hallway, you'll find generously sized bedrooms, each with access to a second sunroom, providing additional living space and flexibility. This thoughtfully-designed layout also offers the potential for a 3rd bedroom, maximizing rental income possibilities. The basement presents an exciting opportunity for expansion, with ample space to build out two additional units, significantly increasing the potential for rental income. The units are equipped with individual heating systems, which can reduce costs for the owner. Gleaming hardwood floors run throughout, adding a touch of elegance and durability. The building's water heater, windows, and rear porches have been recently updated, enhancing efficiency and reducing maintenance concerns. Additionally, the property features garage parking in the rear with six dedicated spaces, providing yet another opportunity to generate additional income. Whether you're looking to expand your investment portfolio or seek an owner-occupant scenario with rental income, this income-generating gem is not to be missed!

PROPERTY FACTS

Price Per Unit $99,833
Sale Type Investment
Cap Rate 4%
Sale Conditions
1031 Exchange
  • Redevelopment Project
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.17 AC
Building Size 10,758 SF
Average Occupancy 50%
No. Stories 3
Year Built/Renovated 1927/2021
Parking Ratio 0.56/1,000 SF

Unit Amenities

  • Bay Window
  • Ceiling Fans
  • Kitchen
  • Hardwood Floors
  • Sunroom
  • Basement
  • Dining Room
  • Office
  • Porch

Site Amenities

  • Vintage Building

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 1 $1,325 -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
20-25-420-057-0000
Land Assessment
$9,375
Improvements Assessment
$15,169
Total Assessment
$24,544

zoning

Zoning Code RT-4 (Residential Two-Flat, Townhouse and Multi-Unit District)
RT-4 (Residential Two-Flat, Townhouse and Multi-Unit District)
  • Listing ID: 32940663

  • Date on Market: 8/23/2024

  • Last Updated:

  • Address: 7830 S Luella Ave, Chicago, IL 60649

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