Courtesy of: David Mahoney, Jameson Sotheby's Intl Realty, dmahoney@jamesonsir.com
Courtesy of: David Mahoney, Jameson Sotheby's Intl Realty, dmahoney@jamesonsir.com
$500,000
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5 bed
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3.00 Bath (3 Full)
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Lot: 0.12 Acres
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Other
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$500,000
3301 N Ozanam Avenue Excellent investment opportunity in a desirable Northwest Chicago neighborhood. This fully leased, well-maintained building generates $3, 500 per month in gross rental income ($42, 000 annually), with an estimated net operating income of $26, 613.52 and a current cap rate of approximately 5.32%. With only a modest 10% increase in rents, the cap rate would exceed 6%, presenting strong upside potential. Additional income is generated from the basement coin laundry (one washer and one dryer), producing approximately $400-$500 annually. Recent improvements include a new roof (2019), new front porch (2019), garden unit remodeled (2018), and Unit 1 remodeled (2020). The property features hardwood floors in the first and second floor units, separate furnaces, and separate electric meters. Units #1 and #2 have tenants paying all utilities, while utilities are included in the rent for the garden unit. The building is fully rented with well-screened, reliable tenants, and units are clean and well maintained. Additional highlights include easy street parking, outdoor storage sheds, a large fenced yard with concrete patio, and coin laundry in the basement for supplemental income. Seller makes no representation regarding the legality of the third (garden) unit.
Courtesy of: David Mahoney, Jameson Sotheby's Intl Realty, dmahoney@jamesonsir.com
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