Cap rate is 6.05% including taxes and expenses! Certified legal 4 units. Prime Bucktown location on Hoyne near Webster. Zoning is RT-4. Lot size is 25 x 126. Arm chair investment or live in and subsidize your mortgage while enjoying appreciation in an appreciating market. Gross rental income $70,800. Expenses : Trash + Water = $1200, insurance = $3568. Gross expenses= $4768. NOI =$66,032. Cap Rate is NOI divided by Purchase price $66,032/$849,000 = cap rate of 7.7%! Including property tax of $14,642, cap rate is $54790/$849,000 =6.45%. The 3 bedroom unit is a duplex up with central heat, central air, laundry in the unit & a dishwasher. The other three units are all 1 bed 1 bath with central heat only. easy to rent units in a great location! New tear off roof in 2018! Each unit has its own mechanicals and utilities. Low expenses, very small interior common area is literally one stairway to maintain.
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For more information about 2223 N Hoyne, Chicago, IL 60647 contact Corcoran Urban Real Estate.
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