$1,265,000

6646 S Greenwood Ave Chicago, IL 60637

Woodlawn Neighborhood

Estimated payment $8,014/month

Total Views 354
-- Bed
-- Bath
7,378 Sq Ft
$171 Price per Sq Ft

About This Home

Turnkey multi-family investment opportunity in a rapidly appreciating Woodlawn location! This professionally managed six-unit building, constructed in 2007, offers exceptional cash flow from day one and significant equity growth potential. The property is designed for the savvy investor seeking a low-maintenance, stable asset with high-end appeal. Investment Highlights: Strong Cash Flow, Current annual income exceeds $123,000. Tenant-paid heat and all utilities, further enhancing operating income. Optimal Unit Mix, Features a highly desirable mix of 3 spacious 2-bed/2-bath units and 3 oversized 3-bed/2-bath units, ensuring high rental demand. High-End Finishes & Amenities, All units boast condo-quality finishes, including granite countertops, dishwashers, and in-unit laundry. Each unit is also equipped with Central AC and tenant paid and controlled HVAC, attracting and retaining quality tenants. Low Maintenance, Built in 2007, this newer construction property offers the reliability and reduced maintenance costs that landlords seek. Equity Growth: Positioned in the heart of the Woodlawn community, this asset is poised for remarkable appreciation as ongoing redevelopment continues to transform the neighborhood. Strategic Location: The property benefits from an A+ location with constant tenant demand. It is strategically located near: The Obama Presidential Center, University of Chicago and Hospital, Jackson Park harbor & golf course, Lakefront beaches and recreational trails, convenient public transportation, including the Green Line train and Metra Electric. This property provides a simple and secure entry into the lucrative multi-family market, offering tenants a beautiful place to live and landlords a stable, profitable, and appreciating asset. Don't miss this opportunity to acquire a cash-flowing investment that is positioned for long-term growth.

Listing Agent

Wayne Beals

Exit Strategy Realty / EMA Management License #471018068 Listed on: 08/29/2025

Co-Listing Agent

Derek Walvoord

Exit Strategy Realty / EMA Management License #475193959

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,604

Year Built

  • Built in 2008

Lot Details

  • Lot Dimensions are 50x125

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 7,378 Sq Ft Home
  • 3-Story Property

Utilities

  • Forced Air Heating and Cooling System
  • Floor Furnace
  • Heating System Uses Gas
  • 200+ Amp Service

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $232
  • Fuel Expense $232
  • Insurance Expense $5,760
  • Maintenance Expense $8,429
  • Manager Expense $5,700
  • Trash Expense $2,346
  • Water Sewer Expense $4,464
  • Operating Expense $44,914
  • Gross Income $123,600
  • Net Operating Income $78,686

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,604

Year Built

Built in 2008

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 2008
  • Built Before 1978 (Y/N): No
  • Information: 48-Hr Notice Required
  • Estimated Age: 16-25 Years
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick, Block
  • List Price: 1265000

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Central Air
  • Electric: Service - 201 to 600 Amps
  • Water Source: Municipal Water
  • Heat/Ventilation: Forced Air,Gas,Individual Furnaces

Condo/Co-op/Association

  • Manager Expense: 5700

Fee Information

  • Trash Expense: 2346
  • Water Sewer Expenses: 4464
  • Janitor Expense: 4148

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 50x125
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 7378

Multi Family

  • Net Operating Income: 78686
  • Fuel Expense: 232
  • Insurance Expense: 5760
  • ElectricExpense: 232
  • GrossIncome: 123600
  • Maintenance Expense: 8429
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 44914
  • Expense Year: 2024
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 13604
  • 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
08/29/2025 08/29/25 For Sale $1,265,000 -- $171 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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Source: Midwest Real Estate Data (MRED)

MLS Number: 12458728

Midwest Real Estate Data (MRED)

APN: 20231240200000