NEW! Buy and sell safely with virtual options - Learn More
Open House Times
- Sun. Oct. 05 at 11:00am to 1:00pm
About the Listing 26989 - 89799,1007648
Be captivated by this move-in ready, vacant prime Albany Park 3-flat-a rare investment opportunity! This renovated legal 3-flat is a true gem located on a charming tree-lined street in Albany Park, a vibrant neighborhood celebrated for its cultural diversity, thriving local dining scene, walkable streets, and convenient access to top-rated schools, parks, and public transit. Unit 1 and Unit 2 each offer three bedrooms, with the third bedroom providing flexible space perfect for a home office, nursery, or guest room. Unit 3 is a modern, oversized one-bedroom with versatile flex space that accommodates a spacious living room, dining area, additional storage, and a king-sized bedroom. The property includes 2022 appliances and in-unit washer/dryers in all three units, a 2023 tear-off roof, a 2025 concrete subfloor with vapor barrier in Unit 1, updated electrical and plumbing throughout, closed-cell attic insulation, new copper water service from the street replacing old lead lines, and a brand-new deck on the 3rd floor. Perfect for investors, owner-occupants seeking income, or multi-generational buyers, this rare legal 3-flat offers both modern updates and long-term appeal in a neighborhood where such opportunities are hard to secure-schedule your private tour today! Investor special with strong fundamentals. Total rental income of 7,150/month including garage (85,800 annually). Market-standard expenses of approximately $25,000 produce an NOI of about 60,800, supporting a 7.6 cap rate at the $799,000 list price and a GRM of 9.3. Conservative underwriting includes vacancy, management, and reserves for stability, with modest rent growth offering a pro forma cap rate near 8.5. Strong cash flow and attractive value compared to market averages.
Listing Highlights for 4624 N Springfield Ave
Status
Active
Days on Site
8
Property Type
Multi-Family
MLS ®
12481130
Year Built
1908
Total Square Footage
0
Lot/Acreage
0.07
Interior Details
- Bedrooms: 7
- Bathrooms: 3 Full
- Appliances: CO Detectors,Ceiling Fan(s),Multiple Water Heaters,Water Heater-Gas
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Lake Michigan
Exterior Details
- Garage Capacity: 2 car
- Parking Spaces: 2
- Lot Dimensions: 25X125
- Zoning: MULTI
- Roof: Asphalt
- Others:
- Sewer: Public Sewer
- Parking Features: Garage Door Opener,On Site,Garage Owned,Detached,Garage
Financial Details
- Tax Amount: $5,082
- Taxes w/Assessments: N/A
- Tax/Property ID: 13141080350000
- Tax Year: 2023
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
4624 N Springfield Ave Chicago, IL 60625
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
