6416 S St Lawrence

Chicago, IL 60637

Spacious, all brick 56 year old 6 flat in red hot Woodlawn on a 50X122 double lot! 5 minutes from University of Chicago and upcoming Obama Library in Jackson Park! Unit shares the block with new construction single family homes, gut rehabbed multi unit buildings and historic home of Emit and Mamie Till. Completely rehabbed in 2015, all units have huge living room/dining combos, sunny and spacious bedrooms and beautifully updated kitchens and baths! Laundry hook ups installed garden level common area. Giant front and rear lawn with 6 rear parking spaces! Property has four 2 bed / 1 bth units and two 3 bed / 1 bth units and the layout is the following: Garden level units feature 2 bed / 1 bth, 6418 units 1 & 2 feature 2 bed / 1 bth and 6416 units 1 & 2 feature 3 bed / 1bth. Building is all electric with electric stoves and water heaters with electric baseboard heat. There are 2 common, inactive gas meters for laundry should buyer want to activate otherwise landlord has no common gas expense. Tenants only have an electric bill, no gas bill, and they pay for their own electricity and heat. Landlord only pays for common electric meter for common hallway lightbulbs. All tenants are up to date on rent! Immediate cash flow with NOI (including 5% vacancy) : $49,153, GRM: 8, Cap rate: 8.5. Easily Increase rents for an unbeatable asset in this quickly appreciating, very popular South Side neighborhood. Can be purchased with neighboring 6 flat MLS # 11631514