INVESTORS LOOKING FOR THEIR NEXT PLAY SHOULD PAY CLOSE ATTENTION HERE...INTRODUCING THIS HANDSOME VICTORIAN/QUEEN ANNE INSPIRED ALL BRICK THREE UNIT BUILDING SITUATED ON AN OVERSIZED 45 X 125 LOT IN THE HEART OF COVETED IRVING PARK. A TRULY WALK TO EVERYTHING LOCATION.
THE SIZE OF ALL THREE UNITS WILL BLOW YOU AWAY...DON'T JUDGE BOOK BY ITS COVER. THERE IS A 3 BED/1 BATH UNIT PLUS SUNROOM (COULD BE 4TH BEDROOM) ON THE MAIN FLOOR (1800 SQ. FT.), 2 BED/1 BATH UNIT PLUS SUNROOM (COULD BE 3RD BEDROOM) ON THE SECOND FLOOR (1450 SQ.
FT) & AN EXPANSIVE ONE BED/ONE BATH UNIT IN THE LOWER LEVEL (1200 SQ. FT.) ALL THREE RENTED WITH FORMAL LEASES, SECURITY DEPOSITS AND EXCEPTIONAL TENANTS THROUGH MID-SUMMER 2027. TOTAL MONTHLY RENT IS $5700 OR $68,400 ANNUALLY. ALL LEASES AVAILABLE UPON REQUEST.
ALL RENTS ARE WELL BELOW MARKET AND CURRENT OWNER DOES NOT CHARGE ADDITIONAL RENT FOR SPACES IN THE THREE CAR GARAGE, THE ONE OUTSIDE PARKING SPACE PAD OR LAUNDRY. WE PROJECT WITH NEW TENANTS, OR RENEWALS IN THE SUMMER OF 2027, MARKET RENTS & PARKING INCOME, THE GROSS RENT COULD BE INCREASED BY AT LEAST $1200 A MONTH OR $14,400 A YEAR.
THIS CAN BE ACHIEVED WITHOUT INCREASING EXPENSES. THIS ANTICIPATED & REALISTIC INCREASE IN REVENUE MAKES, WHAT IS A SOLID INVESTMENT TODAY, A SLAM DUNK INVESTMENT IN THE LONG RUN. EACH OF THESE UNITS FEATURE VERY GENEROUS ROOM SIZES THROUGHOUT...SEE FLOOR PLANS...PICTURES BEHIND EACH FLOOR PLAN ARE OF THE UNIT UNDER THAT FLOOR PLAN...
MAJOR UPDATES & UPGRADES OVER THE LAST SEVERAL YEARS INCLUDING THE GUT REHAB OF THE LOWER LEVEL UNIT. FIRST & SECOND FLOORS FEATURE EAT-IN KITCHENS, SEPERATE LIVING & DINING ROOMS, HARDWOOD FLOORS, WOOD BURNING FIREPLACES & ENCLOSED PORCHES FOR EXTRA LIVING SPACE.
THE BIG LOT MEANS GREAT YARD SPACE & ROOM FOR A DECK AND WONDERFUL THREE CAR BRICK GARAGE (JUST WAITING FOR YOU TO ADD ROOF DECK) WITH AN ADDITIONAL OUTDOOR SPACE. LAUNDRY & EXTRA STORAGE FOR ALL UNITS IN THE LOWER LEVEL. IMPORTANTLY ALL MAJOR INFRASTRUCTURE IMPROVEMENTS HAVE BEEN DONE IN LAST 6 YEARS...NEW TEAR OFF ROOF, NEW BOILER, NEW WATER HEATER, TWO NEW 200 AMP PANELS WITH GARAGE NOW SET FOR EV, TUCKPOINTING & MORE. NOT TO BE MISSED!
