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MLS Properties
20
8139 S Drexel Avenue IL
$1,049,900 Sale
Listed 9 days ago
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Key Facts
Key facts for 8139 S Drexel Avenue IL
Property Type
Commercial
Parking
-
MLS #
12267857
Size
-
Basement
-
Listed on
-
Lot size
-
Tax
$7,842.12 /yr
Days on Market
-
Year Built
1928
Maintenance Fee
-
Description
Welcome to the New Drexel Estates A rare investment opportunity in the vibrant and historic Chatham neighborhood, this fully gutted and meticulously rehabbed six-unit multifamily property is poised to be a cornerstone in any investor's portfolio. This building offers a total of 18 bedrooms and 13... bathrooms across six spacious units, with each unit thoughtfully designed for modern living. Each three-bedroom, two-bathroom unit features a formal living room and dining room, brand-new appliances, and individual furnaces and hot water heaters to ensure tenant convenience and comfort. Additionally, all plumbing, electrical, and gas lines have been newly installed, providing peace of mind for future owners with minimal maintenance concerns. Six new AC units have been positioned on the roof, ensuring efficient cooling and reducing maintenance needs. This property presents a secure opportunity in one of Chicago's most promising neighborhoods, making it ideal for both long-term rental income and portfolio growth. Chatham's rental market is booming, with strong demand for three-bedroom, two-bathroom units. For investors seeking additional revenue, the basement offers an opportunity to add a 7th unit, further increasing rental income and long-term profitability. Additionally, the other side of the basement space could be used as an office or shared workspace, perfect for an on-site property manager, a co-working space for tenants, or even a tenant-exclusive lounge. The existing bathroom in the basement provides flexibility to meet a variety of potential uses, making this property even more versatile and attractive to prospective buyers and tenants. With coin-operated laundry and gated parking, this property provides additional cash flow opportunities. The Chatham neighborhood is known for its strong sense of community, cultural pride, and ongoing revitalization efforts. The property is conveniently located near essential amenities, including public transportation, schools, shopping, dining, and parks. Its strategic location enhances both tenant satisfaction and long-term appreciation potential. This classic Chicago six-flat represents a turnkey investment opportunity with modern finishes, updated mechanicals, and strong rental demand. Given its attractive pricing and income potential, this property is well-positioned for both cash flow and long-term equity growth. Whether you're a seasoned investor looking to expand your portfolio or a first-time commercial buyer, this property presents a win-win opportunity. The combination of new construction quality and vintage Chicago charm makes it an ideal asset in the growing Chatham market. Don't miss this chance to secure a high-yield multifamily property in Chatham!
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Listing courtesy of: Keller Williams ONEChicago

Listings courtesy of MRED as distributed by MLS GRID.