4040 S Wabash Ave

Chicago IL 60653

0.09 ac.

Multi-Family

Currently for sale - view listing

Overview

Legal 4-unit investment or owner-occupied opportunity in Chicago's Bronzeville area with strong in-place rental income and multiple recent improvements. Currently fully rented but there is the opportunity for owner occupancy in July if desired. Have the majority of your mortgage and housing expenses paid by the other 3 units! The property features a desirable unit mix: one garden 2 bed/1 bath, two 3 bed/1.5 bath units, and one 2 bed/2 bath unit, currently generating $6,775/month or $81,300/year in gross scheduled rent. Tenants pay gas and electric, while the landlord pays water. Improvements include updated flooring, stainless steel appliances, granite countertops, newer furnaces, hot water tanks, in-unit washers/dryers, fresh paint, replaced doors, porch-step repairs, and 2025 roof silver coating/maintenance. The property also offers rear parking and an electric vehicle charging hookup (120V). With stabilized occupancy, solid rents, and legal 4-unit status, 4040 S. Wabash Ave is a compelling cash-flowing multifamily asset with upside in one of Chicago's most desirable South Side neighborhoods. Photos are of units pre-move-in to better see the features; all units currently occupied with tenants and their furnishings.

Features

10 bedrooms

7 bathrooms

3 carspaces

0.09 ac. lot size

Multi-Family

Property history for 4040 S Wabash Ave

2019

Sold

$495,000

27 Nov 2019 by Rajah Redmond, of Real People Realty

2015

Sold

$270,000

29 Jul 2015 by Brant Booker, of Jameson Sotheby's Intl Realty

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