2423 N Long Avenue
Chicago, IL 60639 (MLS #MRD12414970 mred)
Square Ft.
5000
Bedrooms
11
Bathrooms
6
Sold
$795,000
Introducing an unparalleled investment opportunity at 2423 N Long, nestled in the heart of the vibrant Belmont-Cragin neighborhood. This unique offering comprises two buildings, hosting a total of six units, presenting a rare value-add proposition for discerning investors. With an attractive 8.8% cap rate and current rents significantly below market… Read Morevalue, the potential for substantial income growth is undeniable.Lovingly maintained by the current long-term owner, each unit within this property echoes a commitment to quality and care. The buildings exude charm and character, reflecting the essence of the community and promising a warm welcome to residents. As you explore the potential of these units, you'll discover the abundant opportunity to enhance and modernize, thereby increasing rental yields and maximizing your investment.The Belmont-Cragin area itself is a jewel within the city, offering residents a blend of urban convenience and neighborhood charm. With its close proximity to local amenities, shopping, dining, and public transportation, 2423 N Long stands as a beacon for potential renters seeking a blend of lifestyle and accessibility.For investors, the allure of this property is multifaceted. Beyond the immediate financial returns, there's a vision to be realized here—a chance to transform and elevate a well-positioned asset into a cornerstone of the community. The current owner's dedication to maintenance and care has preserved the buildings' integrity, laying a solid foundation for future enhancements.This investment is not just about acquiring real estate; it's about embracing the opportunity to contribute to the growth and vibrancy of the Belmont-Cragin neighborhood. With tons of room for value add and an incredible investment opportunity awaiting, 2423 N Long invites you to envision the potential, to see beyond the present, and to shape the future of this community cornerstone.Read Less
Features
Square Ft.
5000
Bedrooms
11
Bathrooms
6
Floors
3
Property Type
Multi Family 6 Units
Year Built
1925
Basement
Finished and Storage/Mechanicals
Cooling
"None"
Utilities
Tenants pay electric and gas
Mortgage Calculator
Monthly Payment
$0
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