Turn-Key, Fully Leased Multi-Unit Investment in Prime Edgewater | $87,600 Annual Income Exceptional opportunity to own a fully tenant-occupied, cash-flowing property in the highly sought-after Edgewater neighborhood. This unique setup features a classic all-brick 2-flat in the front and a legal, detached coach house in the rear-perfectly suited for both seasoned investors and 1031 exchange buyers seeking strong, stable returns. Further possibilities include living in one spacious unit and renting out the others to help balance your mortgage or generate steady monthly income. The front 2-flat offers two beautifully updated 2 bed / 1 bath units, each with refinished hardwood floors throughout, renovated kitchens and baths, central heat and air, and private rear decks ideal for outdoor enjoyment. The second-floor unit also features a second front balcony, perfect for morning coffee or evening relaxation. The common hallway stairs have been updated with newer carpeting, and the first-floor unit offers potential to be duplexed down into the full-footprint basement-opening the door to even more living space or future value-add opportunity. Tenants share laundry facilities in the clean, dry basement. The detached coach house functions as a standalone single-family residence with 4 bedrooms + a flex space and 2 full bathrooms. The kitchen was fully gutted and upgraded, and work throughout the home includes a new back door, new staircase, and a large entry closet. New flooring has been installed in the kitchen, rear bedroom, bathroom, and hallway on the first floor, while the basement now features a newly created full bathroom, a bedroom, private laundry, and ample storage. Modern conveniences include central HVAC and 1 exterior parking space. The coach house also enjoys a small, privately fenced-in yard-ideal for personal outdoor space or a pet area. All units share access to a large, fully fenced-in common backyard oasis, complete with a vegetable garden and a cozy fire pit, offering the perfect outdoor communal retreat. Recent capital improvements include: * Full replacement of sewer line (installed post-purchase) * Extensive interior and exterior painting * New landscaping/sod in front yard * New fence and gate on side of 2-flat * Professional tuckpointing of the brick 2-flat * All electrical service upgraded * Newer aluminum siding on coach house. Tenants are individually responsible for gas, electric, cable, and internet. The landlord covers water and trash only. Located on a quiet, tree-lined street just an 8-minute walk to the new Peterson Metra station. Quick and easy access to Andersonville, Whole Foods, and Chicago's beautiful lakefront. This property is a solid performer with minimal maintenance required thanks to the thoughtful and extensive recent updates. A truly turn-key, low-maintenance asset in one of Chicago's strongest rental markets-ideal for investors or owner-occupants alike.
