A 3-unit apartment building in the vibrant neighborhood of Portage Park. The building is situated steps from the 38-acre Portage Park and just west of I-90, providing residents with access to green space and making for a seamless commute to work in the Chicagoland area and the surrounding suburbs. The property consists of two (2) 3 Bd/1 Ba units, one (1) 2 Bd/1 Ba garden unit, a 2-car garage, and one (1)exterior parking space for additional income. Each spacious layout features ornate details that include decorative fireplaces, built-in shelves, and vintage trim. The low-maintenance property, with tenant-paid utilities (i.e. gas and electric), is an excellent opportunity for investors and owner-occupants. There are multiple investment strategies to increase rents over time. Investors can operate the property as-is or can increase cash flow through an interior renovation. For example, nearby units, comparable to the property's as-is condition, are renting for approx. $108 higher (a 9% increase) and renovated units are renting for approx. $342 higher(a 30% increase). Other opportunities to increase the property's income include adding on-site laundry and renting both garage spaces.
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