$399,000

Estimated payment $2,380/month

Total Views 1,657
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

Turnkey SRO Investment Opportunity in Charming Greystone! Discover a long-established Single Room Occupancy (SRO) greystone property, thoughtfully managed by the current owner. Featuring 8 rooms across what appears to be a 2-unit structure with a finished basement, it has served senior tenants with distinction for years. Why this property stands out: High demand: SROs offer affordable housing for community members on tight budgets. Income flexibility: Continue with the existing 8 tenants, or increase revenue by adding a 9th tenant in the basement. Value-adding refresh: Convert legally to a 3-4 unit building, potentially elevating market value to approximately $900K. Spacious lot: The wide parcel provides potential for enhancements, expansion, or additional amenities. Investor, owner-operator, or developer? This greystone offers multiple paths: Keep it as is and sustain immediate rental income. Expand to maximize rental revenue. Reconfigure zoning to residential to appeal to traditional multi-unit buyers. Bottom line: This property delivers income stability, long-term value creation, and structural flexibility-all wrapped in the enduring charm of a classic greystone. Schedule your showing today and explore the possibilities!

Listing Agent

David Thomas

Blue Door Dave Inc License #471020400 Listed on: 07/10/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,473

Year Built

  • Built in 1903

Home Design

  • Rooming House
  • Flat Roof Shape
  • Brick Exterior Construction
  • Rubber Roof
  • Stone Siding
  • Concrete Block And Stucco Construction
  • Concrete Perimeter Foundation

Interior Spaces

  • 2-Story Property

Utilities

  • Central Heating
  • Radiator
  • Radiant Heating System

Community Details

Overview

  • 5 Units

Building Details

  • Electric Expense $3,000
  • Fuel Expense $3,600
  • Insurance Expense $6,000
  • Trash Expense $2,000
  • Water Sewer Expense $2,400
  • Gross Income $64,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,473

Year Built

Built in 1903

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Rooming House/SRO
  • Stories: 2
  • Year Built: 1903
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Finished
  • Possible Use: Multi-Family, Single Family
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick, Concrete, Stone, Limestone
  • Foundation Details: Concrete Perimeter
  • List Price: 399000
  • Roof: Rubber
  • Roof Structure: Flat
  • Misc Outside: Security Gate,Storms and Screens (as exist)

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Heat/Ventilation: Central Bldg Heat,Radiators,Radiant

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 2000
  • Water Sewer Expenses: 2400
  • Janitor Expense: 1200

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 3000
  • Zoning: MULTI

Rental Info

  • Board Number: 8
  • Tenancy Type: Month To Month

Multi Family

  • Fuel Expense: 3600
  • Insurance Expense: 6000
  • ElectricExpense: 3000
  • GrossIncome: 64000
  • NumberOfUnitsTotal: 5
  • Type Multi-Family: Rooming House/SRO

Tax Info

  • Tax Annual Amount: 2473.4
  • Tax Year: 2023

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/10/2025 07/10/25 For Sale $399,000 -- --
Source: Midwest Real Estate Data (MRED)

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Source: Midwest Real Estate Data (MRED)

MLS Number: 12416166

Midwest Real Estate Data (MRED)

APN: 20154060080000