This meticulously maintained 12-unit apartment building epitomizes the essence of a lucrative investment opportunity. Its present success, while impressive, barely scratches the surface of its true potential. The commitment to excellence is evident in every facet of this property, making it a standout option for discerning investors. The building’s robust income stream is merely a glimpse of what could be achieved with strategic management. Despite its already impressive financial performance, there exists ample room for growth, positioning this asset as an attractive proposition for those looking to maximize their returns. One of the hallmarks of this property is its recent upgrades, which testify to its commitment to modernity and longevity. The newer windows not only enhance aesthetic appeal but also contribute to energy efficiency, creating a more sustainable and cost-effective living environment for tenants. The resealed roof serves as a testament to the owner’s dedication to preserving the building’s structural integrity, ensuring its durability for years to come. The commitment to providing a top-tier living experience extends to the practical aspects as well. The parking area, thoughtfully redone in 2022, ensures convenience and safety for residents and their vehicles. The inclusion of a newer furnace and hot water heater, both of which are high-efficiency models installed in 2020, attests to the property’s readiness to meet modern energy standards while keeping operating costs in check. Furthermore, the strategic location of this building adds another layer of desirability. Situated near shopping centers and expressways, tenants enjoy unparalleled convenience, making it an ideal place to call home. The proximity to key amenities not only enhances the overall tenant experience but also contributes to tenant retention and demand, ultimately bolstering the property’s income potential. In summary, this well-maintained 12-unit apartment building is a remarkable investment opportunity. Its strong income, potential for growth, recent upgrades, efficient systems, and prime location coalesce to create an attractive package that any savvy investor would be wise to consider. This property stands as a testament to the art of real estate investment and management, offering both immediate rewards and a promising future.
View full listing detailsPrice: | $1,429,000 |
Address: | 5810 W 87th Street |
City: | Burbank |
County: | Cook |
State: | Illinois |
Zip Code: | 60459 |
MLS: | 11912575 |
Year Built: | 1973 |
actualStatus: | Contingent |
allowedUseCaseGroups: | IDX |
constructionmaterials: | Brick |
contingency: | Attorney/Inspection |
cooling: | Wall Sleeve, Window Unit(s) |
electricexpense: | 1800 |
fuelexpense: | 6000 |
grossincome: | 144000 |
grossscheduledincome: | 144000 |
insuranceexpense: | 5088 |
lotsizedimensions: | 148X125 |
maintenanceexpense: | 2500 |
mlsareamajor: | Burbank / Nottingham Park |
mlsstatus: | Contingent |
mrdAag: | 36-50 Years |
mrdB78: | yes |
mrdBoardnum: | 10 |
mrdConttoshow: | Yes |
mrdDry: | 2 |
mrdFpr: | Fire Extinguisher/s |
mrdGrm: | 8 |
mrdHvt: | Central Bldg Heat,Radiators |
mrdIdx: | Y |
mrdInfo: | 48-Hr Notice Required,Highly Confidential |
mrdJan: | 1000 |
mrdMc: | Active |
mrdRef: | 12 |
mrdRng: | 12 |
mrdSmi: | 12000 |
mrdTmf: | Corridor-Interior Entrance |
mrdWac: | 12 |
mrdWdl: | No |
mrdWsh: | 2 |
netoperatingincome: | 118552 |
numberofunitstotal: | 12 |
operatingexpense: | 25448 |
otherexpense: | 960 |
parkingtotal: | 18 |
propertyType: | Multi Family 5+ |
purchasecontractdate: | 2023-11-14T00:00:00+00:00 |
stories: | 3 |
taxannualamount: | 22364.1 |
taxyear: | 2021 |
tenantpays: | Electricity |
township: | Stickney |
trashexpense: | 3900 |
watersewerexpense: | 4200 |