Multi-Family - Chicago, IL
8% cap rate. Prime Bucktown location on Hoyne near Webster. Zoning is RT-4. Lot size is 25 x 126. All 4 units are currently rented and occupied. Arm chair investment or live in and subsidize your mortgage while enjoying appreciation in an appreciating market. Gross rental income $73,200. Gross expenses= $5,000. NOI =$68,200. Cap Rate is NOI divided by Purchase price $68,200/$849,000 = 8% cap rate. After property tax, cap rate is 6.8%. The 3 bedroom unit is a duplex up with central heat, central air, laundry in the unit and a dishwasher. The other units are all 1 bed 1 bath with central heat only. Never vacant, easy to rent units in a great location!
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