The investment property you've been waiting for, 6314 N. Lakewood has proven cash flow and even more cash flow potential. This cash cow boasts 3 legal units totaling about 6000sf above grade. Lot measures 50'x120' in the heart of Edgewater. Current CAP rate of 6.1% and the potential for 7.8% with annual rents over $100,000. Units 2 and 3 are identical 2000sf, 4 bed/2 bath units with huge formal dining rooms and expansive living spaces. The vacant owner unit on the 1st floor boasts 3 bedrooms/2 bathrooms, formal dining and living spaces, in-unit laundry and a breakfast area. Kitchen has Corian countertops, 42" custom cabinetry and SubZero refrigerator. This unit also has a private side yard that expands almost the entire depth of the lot. 4car brick garage that is also fully rented. Incredible investment opportunity whether you're an off-site investor or a live-in landlord. Formal appraisal done in October 2020 came back @ $1,125,000 so this building is priced to move. (Estate Sale so sold As-Is)
Berkshire Hathaway HomeServices Chicago
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Listing information last updated on November 24th, 2020 at 7:45pm CST.