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$ 1,080,000
Est. payment /mo
Active
2904 S Wells ST Chicago, IL 60616
3,049 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12614240
Year Built 1885
Annual Tax Amount $17,226
Tax Year 2024
Lot Size 3,049 Sqft
Lot Dimensions 25X125
Property Sub-Type Multi Family 5+
Property Description
Excellent investment opportunity in the desirable neighborhood! This well-maintained multi-unit property features a total of 7 residential units , offering multiple streams of rental income. The front building includes a 3 bed/1 bath unit on the first floor, a 2 bed/1 bath unit on the second floor, and a 1 bed/1 bath unit on the third floor, while the rear building consists of three 2 bed/1 bath units. Additional income is generated from the coach house unit and parking space. The property is in solid condition, with 6 units featuring central heating and cooling and 1 unit equipped with central heat and window AC. Current rents are below market and have not been increased in years, presenting a strong value-add opportunity for investors to enhance cash flow through future rent adjustments. The versatile unit mix appeals to a wide tenant base and helps minimize vacancy. Conveniently located near transportation, restaurants, and local amenities, this is an ideal asset for both seasoned investors and those seeking stable long-term income.
Location
State IL
County Cook
Area Chi - Armour Square
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by QianKun Chen of Kale Realty