7535 W 58th Pl

Summit IL 60501

Multi-Family

Currently for sale - view listing

Overview

Meticulously maintained brick & frame 3-unit building in a quiet neighborhood in Summit, Illinois! Excellent investment opportunity with strong cash flow potential or perfect for owner-occupants. Currently generating $4,031/month (potential of ~ $5,000/mo. due to current below market rents). Current GRM of 8.65. This spacious ~3,300 sq ft multifamily property sits on an oversized 45x125 lot with side yard. The property features a bottom floor having a large 4 bed / 2 bath owner's unit, upstairs units are a 2 bed / 1 bath unit and a 1 bed / 1 bath unit. Recent updates include: Unit 2F fully remodeled (2022), Unit 1 updated (~2017), Unit 2R features new quartz countertop & ducted range hood. Separate circuit breaker panels and gas meters for each unit. One furnace serves the building. Additional highlights include a detached 4-car garage with artist studio (rented out for storage), full basement with Coin Washer & Dryer, and strong rental appeal. Conveniently located near major highways, with a large community park at the end of the block, offering both accessibility and neighborhood charm. PROOF OF FUNDS REQUIRED PRIOR TO SHOWINGS. Broker Owned Interest.

Features

7 bedrooms

4 bathrooms

4 carspaces

4 garage spaces

Multi-Family

Property history for 7535 W 58th Pl

2021

Sold

$315,000

30 Sep 2021 by Mark Nowak, of Nowak Realty

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