Seller's Agent in 2021
Marco Cesario
Jameson Commercial
(312) 315-7173
5 in this area
12 Total Sales
7656 S Colfax Ave Chicago, IL 60649
South Shore Neighborhood
9
Beds
6
Baths
--
Sq Ft
2,614
Sq Ft Lot
About This Home
As of December 20217656 S. Colfax, built in 2008, is comprised of (3) 3bd 2ba units boasting approximately 1150 sf of living space. All of the in-unit improvements included, but limited to: Kitchen Cabinets, granite Counter Tops & Mosaic Tile Backsplashes, Hardwood Floors, Brush Nickel Faucets. SS Appliances, Bathrooms, light fixtures, ceiling fans, and individual HVACs. This fantastic 3-flat provides an investor the opportunity to acquire their first property or a seasoned investor who wants to add more units with low density and grow their exiting portfolio. All three units are with CHA tenants where CHA pays 100% for two of the units about approx 60% for the third unit. The current Gross Scheduled Rent income is $36,876, but in this listing, a estimated 5% vacancy/credit loss is taken into consideration which brings the Gross Operating Income to $35,032. Furthermore, with lease improvements, the Gross Rents have the potential of reaching $46,800 on a year 1 proforma. The second option is to purchase this property as an owner-occupied buyer and take advantage of the rents from the other units to cover your mortgage and then some! **NOTE** This property can also be purchased with 7542 S. Colfax (same owner) MLS#11188329 . Call listing agent for more details on all opportunities.
Last Agent to Sell the Property
Jameson Commercial License #475142196 Listed on: 08/12/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,510
Year Built
- Built in 2008
Lot Details
- 2,614 Sq Ft Lot
- Lot Dimensions are 23 x 125
Home Design
- Asphalt Roof
- Concrete Perimeter Foundation
Interior Spaces
- 3-Story Property
Bedrooms and Bathrooms
- 9 Bedrooms
- 9 Potential Bedrooms
- 6 Bathrooms
Parking
- 3 Parking Spaces
- Uncovered Parking
- Off-Street Parking
- Parking Space is Owned
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
Overview
- 3 Units
Building Details
- Electric Expense $131
- Insurance Expense $2,263
- Maintenance Expense $975
- Manager Expense $1,752
- Professional Management Expense $300
- Water Sewer Expense $1,643
- Gross Income $35,032
- Net Operating Income $22,592
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/31/2021 12/31/21 | Off Market | $345,000 | -- | -- |
| 12/30/2021 12/30/21 | Sold | $345,000 | -18.8% | -- |
| 10/28/2021 10/28/21 | Pending | -- | -- | -- |
| 08/13/2021 08/13/21 | For Sale | $425,000 | +93.2% | -- |
| 01/21/2015 01/21/15 | Sold | $220,000 | -4.3% | -- |
| 12/29/2014 12/29/14 | For Sale | $230,000 | +42.0% | -- |
| 08/21/2014 08/21/14 | Sold | $162,000 | +29.6% | -- |
| 06/20/2014 06/20/14 | Pending | -- | -- | -- |
| 06/02/2014 06/02/14 | For Sale | $125,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Marco Cesario
-
Sunny Lamba
Seller's Agent in 2015
Sunny Lamba
Publix Realty, Inc.
(773) 780-7717
4 in this area
126 Total Sales
-
N
Buyer's Agent in 2015
Non Member
NON MEMBER
-
Diana Peterson
Seller's Agent in 2014
Diana Peterson
AW Properties Global/Auction Works
(312) 218-6102
21 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11188340
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