8011 S Ellis Ave.

Extremely rare opportunity to purchase a true unicorn multi-unit asset in Chicago's Chatham neighborhood! The one-of-a-kind 6-unit was remarkably constructed by one of Chicagoland's best developers with over $1.6 million invested into this multi-unit in 2016! This 6-unit includes all 2 bedroom, 1 bath units with central air, new HVAC, and hardwood floors throughout! This multi-unit also includes 2 elevators for freight and handicap accessibility, a state-of-the-art security system and laundry facility in the basement! Fully occupied with paying tenants! With so much invested, a new buyer can cash flow this property for decades without the worry of coming out of pocket for any major expenses! 4-parking spaces in the back provide additional cash flow upside! This building is currently grossing $5,552 per month in rental income! While there were two vacancies for the majority of 2021, now at full capacity this building will produce $66,624 per year in gross revenue and a $49,200.67 annual net operating income! Boasting a 7.87% cap rate, this building far exceeds Chicago's 2021 average cap rate of 4.13% according to Chicago Real Estate Source. This building appraised for $600,000 May 17th, 2021! The 6-unit building next door is also being renovated from top to bottom, further increasing the value of the neighborhood and quality of this Chicago block. Seller is very cooperative - investors don't miss out on this opportunity! Documentation such as the appraisal, detailed construction documentation and rent rolls are available in the broker comments and MLS documents. Schedule a tour, make an offer!