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11849 S Karlov Avenue S

Alsip, IL 60803
  • $1,188,000
  • STATUS: Active Under Contract
  • ON SITE: 48 days
  • MLS #: 11125625
Under Contract
UPDATED: 35 min ago
$1,188,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1974
County:

School Ratings & Info

Description

Incredible value add opportunity. Rarely available 12 unit apartment building. 100% leased with 2 washers and 2 dryers for extra income. (6) one bedroom units and (6) two bedroom units. Building has been meticulously maintained by long term ownership. Multiple updates include: Roof (2020), all balconies were torn down and replaced (2014), each unit has it's own water heater (majority of them are newer), electric boxes with smart meters installed in 2018, most of the units have updated flooring, kitchens and bathrooms. 3 of the 12 units have granite kitchens. New paint, flooring carpet and laminate in common areas (entrance), front and back entrance doors along with canopies replaced in 2018, new parking blocks installed (2019). There is a large gap in certain rents/ 2 beds range from $800 to $1200 for the same quality unit and size. Annual gross income could be increased by an additional $21,000 if all units were brought to current rental rates. All apartments are tenant heated. The new 2020 property taxes will be $23,279 per tax attorney (THIS IS REFLECTED IN NET OPERATING INCOME OF $89,717) Owner(s) are Illinois licensed real estate brokers. Please contact listing broker for full detailed offering memorandum and detailed rent roll.

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© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Schoon Family Group with Keller Williams Elite. Based on information submitted to the MRED as of 2021-08-04T11:55:18.293 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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11849 S Karlov Avenue S Alsip, IL 60803

  • Price: $1,188,000
  • Status: Active Under Contract
  • Updated: 35 min ago
  • MLS #: 11125625
0
Beds
0
Baths
0
½ Baths
0.3
Acres
1974
Built
Neighborhood:
Alsip / Garden Homes
County:
Cook
Area:
Alsip / Garden Homes
Property Description
Incredible value add opportunity. Rarely available 12 unit apartment building. 100% leased with 2 washers and 2 dryers for extra income. (6) one bedroom units and (6) two bedroom units. Building has been meticulously maintained by long term ownership. Multiple updates include: Roof (2020), all balconies were torn down and replaced (2014), each unit has it's own water heater (majority of them are newer), electric boxes with smart meters installed in 2018, most of the units have updated flooring, kitchens and bathrooms. 3 of the 12 units have granite kitchens. New paint, flooring carpet and laminate in common areas (entrance), front and back entrance doors along with canopies replaced in 2018, new parking blocks installed (2019). There is a large gap in certain rents/ 2 beds range from $800 to $1200 for the same quality unit and size. Annual gross income could be increased by an additional $21,000 if all units were brought to current rental rates. All apartments are tenant heated. The new 2020 property taxes will be $23,279 per tax attorney (THIS IS REFLECTED IN NET OPERATING INCOME OF $89,717) Owner(s) are Illinois licensed real estate brokers. Please contact listing broker for full detailed offering memorandum and detailed rent roll.
Exterior Features

Construction Materials Brick Miscellaneous Outside Balcony/Ies Parking Total 18 Roof Structure Flat

Interior Features

Cooling Wall Sleeve Heat Ventilation Electric Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Unit1 1 Number Of Bedrooms Unit2 2 Number Of Bedrooms Unit3 0 Number Of Bedrooms Unit4 0 Number Of Dryers 2 Number Of Full Bathrooms Type1 1 Number Of Full Bathrooms Type2 1 Number Of Ranges 12 Number Of Refrigs 12 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 4 Number Of Rooms Unit2 4 Number Of Rooms Unit3 0 Number Of Rooms Unit7 0 Number Of Units Apt Type1 6 Number Of Units Apt Type2 6 Number Of Units Apt Type3 0 Number Of Units Apt Type4 0 Number Of Units Apt Type5 0 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Number Of Washers 2 Number Of Window Ac 18

Property Features

Additional Parcels YN No Built Before1978 YN Yes Cap Rate 7.6 Current Use Multi-Family Electric Expense 946 Expense Year 2020 Exterior Building Type Brick Fuel Expense 0 Gross Income 137400 Gross Scheduled Income 136200 Insurance Expense 3310 Janitor Expense 600 Lot Size Dimensions 133X100 Maintenance Expense 1800 Monthly Income Max1 1000 Monthly Income Max2 1200 Net Operating Income Year 2020 Operating Expense 43597 Other Expense 0 Owners Assoc YN No Tax Annual Amount 19825 Tax Year 2019 Tenant Pays Air ConditioningElectricityHeat Total Monthly Income 11350 Trash Expense 1407 Type Multi Family Garden Complex Unincorporated YN No Washer Dryer Leased YN No Water Sewer Expense 5589 Zoning Multi

Listing information © 2021 Midwest Real Estate Data LLC.
Listing provided courtesy of Prime Equities Corp..


© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Schoon Family Group with Keller Williams Elite. Based on information submitted to the MRED as of 2021-08-04T11:55:18.293 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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