Where else can you find a 7 unit, brick building on an oversized 35' wide lot, currently price at a 7.1 cap/10.3GRM and will naturally increase to over an 8 cap in less than 3 months as tenants agreed upon rents increase. Located at the prime corner of Harding and Roscoe in the heart of Avondale, walking distance to public transportation, easily accessible to the CTA blue line and 90/94. This building features a mix of one and two-bedroom apartments, generating $9,450/month in rental income. The building is expected to increase the rents to over $10,500/month by the fall once the current leases cycle up to market rates. All apartments feature central heat, a laundry facility in the basement, and additional storage closets. Additionally, there is unfinished space that could be duplexed into an existing unit or turned into another apartment, providing even more rental income potential. In the last 18 months the building has had a brand new tear off rubber roof, tuck-pointing, new concrete and drainage installed, a brand new tandem parking pad, new furnaces in 3 apartments, brand new plumbing and electric installed in the basement and rehabbed apartment, a brand new laundry facility, new windows where needed, a partial update of the bathroom and kitchen in the garden apartment. There is still plenty of upside to add value to the remaining apartments and increase rents further. Look no further than 3400 N. Harding, this is an optimal turnkey ready investment property to add to any existing portfolio or for any neighborhood investor wanting to safely invest their money!
