736 N Spaulding Avenue Chicago IL 60624 MLS #MRD12589340

Turnkey vintage Greystone with six spacious 2-bed/1-bath apartments – a rare income package for the investor who wants cash flow now with the ability for further upside later. Originally built in the early 1900s and previously taken down to the brick in a full gut rehab in 2014, this classic 3-story masonry building leaves little to be desired. Two apartments have been tastefully renovated with brand-new kitchens, baths, appliances, and other upgrades totaling roughly $50K in recent capital improvements. New tear-off roof approximately 7 years old, complete masonry overhaul approximately 9 years ago, and new water service. All units are separately metered for gas and electric to keep expenses lean. Desirable floor plans, all featuring in-unit laundry, individual mechanicals, and utilities. Current rents total ~$4,700/mo (one vacant), with room for growth through placing new leases or renovating the other 4 units. Stabilized income in its current condition could easily generate an extra $1k/mo. The fenced rear yard offers potential to add off-street parking and create a new revenue stream. Great access to the CTA Green Line, Metra, and Chicago bus with Garfield Park, Humboldt Park, and the historic boulevard system right around the corner. Bring your investors – this one checks the boxes.