NOT LISTED FOR SALE
13 Beds
14 Baths
800 Sq Ft
7,200 Sq Ft Lot

Last Sold April 11, 2022

Last sale price $460,000 $575 Per Sq Ft

86 Days on Market

About This Home

As of April 2022

VALUE ADD OPPORTUNITY with this 6 figure producing 13 unit in West Chatham. 11 one-bedrooms, 2 studios, and 1 non-conforming two-bedroom. Improvements include Newer Roof, newer windows, new rear porches/ stairs. Rents are below market, but can easily be moved up to a higher rate with some cosmetic updates. High income producing building and perfect opportunity to pick up a hot investment at over 11% cap rate. Steps from Westcott Elementary, Simeon High School, and in the middle of three parks!

Last Agent to Sell the Property

Danny Lewis

Baird & Warner License #475126641 Listed on: 11/16/2021

Baird & Warner

Last Buyer's Agent

Michael Tolliver

Atlas Asset Management Realty LLC License #471012301

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,814

Year Built

  • Built in 1927

Lot Details

  • 7,200 Sq Ft Lot
  • Lot Dimensions are 25x125

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 14 Bathrooms

Additional Features

  • 3-Story Property
  • Radiator

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 13 Units

Building Details

  • Electric Expense $738
  • Fuel Expense $13,019
  • Insurance Expense $3,353
  • Trash Expense $1,831
  • Water Sewer Expense $5,321
  • Operating Expense $34,318
  • Gross Income $104,676
  • Net Operating Income $61,544

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,814

Year Built

Built in 1927

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1927
  • Built Before 1978 (Y/N): Yes
  • Information: 48-Hr Notice Required
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 14
  • Total Bedrooms: 13
  • Possible Use: Commercial, Multi-Family
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick

Utilities

  • Heat/Ventilation: Radiators

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1831
  • Water Sewer Expenses: 5321

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.16
  • Lot Dimensions: 25X125
  • Lot Size Sq Ft: 7200
  • Zoning: MULTI
  • Alternate Phone Number: (312) 826-9925

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 61544
  • Fuel Expense: 13019
  • Insurance Expense: 3353
  • ElectricExpense: 738
  • GrossIncome: 104676
  • NumberOfUnitsTotal: 13
  • OperatingExpense: 34318
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 8813.8
  • Tax Year: 2019
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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 List to Sale Price per Sq Ft Prior Sale
04/11/2022 04/11/22 Sold $460,000 -12.4% $575 / Sq Ft
02/11/2022 02/11/22 Pending -- -- --
11/16/2021 11/16/21 For Sale $525,000 +9.4% $656 / Sq Ft
11/12/2019 11/12/19 Sold $480,000 -8.6% -- View Prior Sale
09/02/2019 09/02/19 Pending -- -- --
08/19/2019 08/19/19 For Sale $525,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $9,706 $30,940 $4,446 $26,494
2024 $9,706 $30,940 $4,446 $26,494
2023 $9,461 $46,001 $4,500 $41,501
2022 $9,461 $46,001 $4,500 $41,501
2021 $13,317 $66,226 $4,500 $61,726
2020 $13,918 $62,479 $4,500 $57,979
2019 $12,553 $62,479 $4,500 $57,979
2018 $10,429 $52,797 $4,500 $48,297
2017 $8,814 $40,943 $4,140 $36,803
2016 $10,215 $51,003 $4,140 $46,863
2015 $12,209 $66,624 $4,140 $62,484
2014 $12,361 $66,624 $4,140 $62,484
2013 -- $66,624 $4,140 $62,484
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11271236

Midwest Real Estate Data (MRED)

APN: 20331050350000