Wonderful 6-unit 3-story brick building on the board of 3 wonderful areas; West Ridge, Rogers Park, and Evanston. Great local transportation and shops, excellent for tenants. Property was rehabbed in '14-'15. The building is clean and features many updates and new appliances from the rehab. 6 Units with 2 bedrooms and 1 bath each. Fully rented to wonderful tenants, All leases are Month-to-month or expiring 04/30. Rents are under market rates which creates an opportunity for a hands-on buyer. Market rents $1200-1300. Property also features 2 parking spaces and individual storage units in the basement which could be rented for additional price. Currently generating near a 7 cap (9.4 GRM) with opportunity to be at a 9 cap (7.70 GRM). Don't miss this opportunity. There are 2 coin washers & 2 coin dryers in the basement area which currently create income for the building owner. Minor touches to this property can generate a big increase in income, est. around $17,000. 7516 1/2 N. Ridge Blvd
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For more information about 7516 N Ridge, Chicago, IL 60645 contact Corcoran Urban Real Estate.
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