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About the Listing 88183 - 1016193,268353
Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place. The building sits immediately west of Palmer Square and Kedzie Boulevard with recent, nearby new build single-family home sales under contract near $1.5 million. The existing rent roll comprises $84,120 of revenue or a 9.2x gross revenue multiple on in-place income. Additional revenue can be creted by (i) marking the existing rent roll to market, (ii) adding a parking slab with three exterior stalls at the rear of the building, and (iii) creating a small outdoor garden/amenity area in the existing gravel yard at rear. This value-add is projected to result in $96,200 of revenue or a stabilized 7.8x GRM, roughly a 10.0% return-on-cost. All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.
Listing Highlights for 3501 W Palmer St
Status
Pending
Days on Site
16
Property Type
Multi-Family
MLS ®
12502469
Year Built
1897
Total Square Footage
0
Lot/Acreage
3052 SF
Interior Details
- Bedrooms: 9
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Crawl Space,Partial
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Lot Description: Corner Lot
- Garage Capacity: N/A
- Parking Spaces: 4
- Lot Dimensions: 3052 SF
- Roof: Asphalt
- Others:
- Sewer: Public Sewer
- Parking Features: Unassigned,Off Street,Yes,Owned
Financial Details
- Tax Amount: $5,625
- Taxes w/Assessments: N/A
- Tax/Property ID: 13352190150000
- Tax Year: 2023
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
3501 W Palmer St Chicago, IL 60647
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