Legal 4-unit building in Bronzeville with a 3 Bed / 2 Bath unit available for owner occupancy. The property consists of (3) large 3 bed / 2 bath units and (1) 2 bed / 2 bath garden. Renovated in 2017, all units enjoy in-unit laundry, central air conditioning, and granite counter tops. The property is being listed at an attractive 9.3x gross rent multiple or roughly 6.4% cap rate on in-place cash flows. If the existing lease roll were marked to current market rents, the property would generate $109,620 in gross annual income and stabilize at a 7.7% cap rate without the need for major renovations. Bronzeville continues to experience substantial residential and commercial development activity, driving long-term appreciation and rent growth. The building sits half a block from the CTA Green line station, providing a short commute downtown for owners and tenants alike.
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For more information about 4030 S Indiana, Chicago, IL 60653 contact Corcoran Urban Real Estate.
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Listing provided by Essex 312, LLC
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