203 N Leamington AVE Pending Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60644
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 12314738
Style Other
Bedrooms 8
Year Built 1910
Annual Tax Amount $2,742
Tax Year 2023
Lot Size 3,049 Sqft
Property Sub-Type Two to Four Units
Property Description
OUTSTANDING - PROFESSIONALLY MANAGED - TURNKEY INVESTMENT OPPORTUNITY! This legal 3-flat is the high-performing asset you've been manifesting, generating an impressive $56,100 in annual rental income with low operating costs. The landlord's responsibilities are minimal, limited to water, landscaping, snow removal, and an incredibly low annual tax bill of just $2,742.67 (without exemptions). Also, the seller's mortgage interest rate of 2.25% can be assumed by the buyer using Roam. Professionally managed and meticulously maintained, this brick beauty offers separate gas and electric meters, individual tankless water heaters, and central heating & cooling in every unit, ensuring that tenants cover all utilities. Because the cost of doing business is everything when it comes to multi-family ownership, we have covered all the essentials; including a coin operated washer & dryer which collects about $300 to $350/mo; basically covering the water & maintenance bill. This Income-producing building has had zero vacancies in the last three years. The reason is very simple: each unit was refurbished with a seamless blend of modern elegance and functionality. Spacious kitchens equipped with dishwashers, microwave, upgraded stoves and refrigerators. The three spacious bedrooms offer our residents space to grow, entertain and lounge. The 2nd & 3rd units have separate dining and living rooms, updated kitchens with granite countertops, stainless steel appliances, and space for a breakfast table, this property is designed for maximum tenant appeal. The legal main-level 2-bed/1-bath unit boasts a modern kitchen with newer appliances and newer flooring. Recent upgrades include a brand-new (2024) tear-off roof, gated entry, and a coin-operated laundry in the lower level for added convenience to your residents and income to your budget. The fully rented detached 2-car garage rounds out this highly desirable investment. Located in the sought-after Austin neighborhood, close to parks, shopping, and public transit, this fully leased, income-generating property is the perfect addition to any investor's portfolio or owner-occupant landlord.
Location
State IL
County Cook
Area Chi - Austin
Zoning MULTI
Interior
Heating Natural Gas,Forced Air
Equipment CO Detectors,Multiple Water Heaters,Water Heater-Gas
Exterior
Exterior Feature Storms/Screens
Garage Spaces 2.0
Community Features Curbs,Gated,Sidewalks,Street Lights,Street Paved
Roof Type Flat
Building
Dwelling Type Two to Four Units
Sewer Public Sewer
Water Lake Michigan,Public
New Construction false
Schools
Elementary Schools Spencer Elementary School Math &
Middle Schools Marshall Middle School
High Schools Marshall Metropolitan High Schoo
School District 299 ,299, 299
Others
Special Listing Condition None