Derrick Klauer
- Buy
- Sell
https://www.ruhlmortgage.com/GregCotton.html
Description
Outstanding investment opportunity to acquire a well-maintained six-unit brick apartment building located on Chicago's historic Garfield Boulevard. This legal six-flat features six spacious 2-bedroom, 1-bath apartments comprising approximately 8,028 square feet of living space on a 6,000-square-foot lot. Each apartment offers generous room sizes, separate living and dining rooms, hardwood flooring and individual gas-forced air furnaces. Tenants pay their own heat, gas and electricity, providing attractive operating efficiency and reduced owner expenses. The property enjoys a strong rental history with long-term tenants and immediate income-producing potential. Current rents range from $1,000 to $1,150 per month, with additional upside through future rental adjustments. Numerous recent capital improvements enhance the property's value, including a new electrical service (2026), two new sump pumps (2026), repaired/replaced front porch lintels (2026), new basement flooring (2026), and a modified bitumen roof installed in approximately 2018 that is professionally inspected annually and maintained with a protective silver coating. Additional features include a spacious rear yard, five off-street parking spaces, full basement, and an excellent location with convenient access to CTA public transportation, Interstate 94 (Dan Ryan Expressway), Sherman Park, schools, shopping, restaurants, and Downtown Chicago. Whether expanding an investment portfolio or acquiring a stabilized multifamily asset with long-term appreciation potential, this property presents an exceptional opportunity in today's Chicago multifamily market.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
Sqft: 8,028
County: Cook
Listed By:
RLB Realty Group, Inc.
773-268-2000
MRED MLS
MLS ID: 12688777
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1449 - 51 W Garfield Boulevard , Chicago, IL 60636.
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563-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $699,900 | $699,900 | $699,900 |
| Down Payment | $139,980 | $24,497 | $174,975 |
| Monthly Mortgage Amount | $3,357 | $4,176 | $4,324 |
| Taxes | $974 | $974 | $974 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $308 | $0 |
| Monthly Estimated Total | $4,535 | $5,662 | $5,502 |
Derrick Klauer
REALTOR®
Cell: (303) 358-5837
Licensed in IA & IL
Davenport Office
4545 Welcome Way
Davenport, IA 52806
(563) 441-5100
Davenport, IA 52806
(563) 441-5100
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