About The Property

Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're anRead MoreRead Less
Courtesy of Fulton Grace Realty [email protected]
Listing Snapshot
Days Online
88
Last Updated
Property Type
Two To Four Units
Beds
7
Year Built
1923
MLS Number
12560835
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Additional Details

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Basement
"Unfinished", "Full", "Walk-Out Access"
Building
Construction Materials: "Brick", Built in 1923, Rebuilt: No
Heating
"Radiant", "Radiator(s)"
Lot
Dimensions: 25x125
Parking
Parking Total: 3, "Off Alley", "Alley Access", "Yes", "Owned"
Sewer
"Public Sewer"
Utilities
Water Source: "Lake Michigan"
Taxes
Annual Taxes: $3,388, Year: 2023
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