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Jennifer Justus

jennifer@stellarresultsrealty.com +1(847) 970-0778

$ 225,000

Est. payment -/mo

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New

273 E 148th ST Harvey, IL 60426

8 Beds

5 Baths

6,098 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12800046

Bedrooms 8

Maintenance Fees $3,060

Year Built 1959

Annual Tax Amount $11,721

Tax Year 2025

Lot Size 6,098 Sqft

Lot Dimensions 48x127

Property Sub-Type Two to Four Units

Property Description

Attention Investors And Owner-Occupants! This Is A Solid Brick Legal 4-Unit Plus An Additional Garden Apartment On A Double Lot In Harvey. The Unit Mix Includes Three 2-Bedroom And Two 1-Bedroom Apartments. The Roof Is Approximately 10 Years Old, And The Brick Is Solid And In Good Shape. The Building Is All Electric, With 5 Separate Electric Meters And 5 Separate Water Heaters. Tenants Pay Their Own Electric, So Landlord Utility Costs Stay Low. There Is Dedicated Basement Space With Storage Lockers For Tenants, Plus Parking For 4-5 Cars In The Back. Two Units Are Currently Leased At $900 And $1,000 Per Month. Two Units Are Vacant And Ready For New Tenants: The Garden Unit, Previously Leased At $1,400/Month, And A Unit With Market Rent Of Approximately $950/Month. One Additional Unit Can Be Delivered Vacant Before Closing. Perfect Rent Hack Opportunity: Live In One Unit And Let The Rent From The Others Pay Your Mortgage! At Full Occupancy, Projected Gross Income Is Approximately $5,100/Month ($61,200/Year), For A Projected 15.7% Cap Rate And A Projected 33.6% Cash-On-Cash Return (Based On 25% Down At 7.5% Interest). This Is A True Value-Add Opportunity To Stabilize The Building And Grow Your Cash Flow. Rent Roll And Expense Estimates Available Upon Request. Sold Strictly As-Is. Bring Your Investors And Your Vision! The property is located in a census tract that appears eligible for the Wells Fargo Homebuyer Access grant. Qualified buyers may receive a $10,000 grant toward their down payment. The grant may also be combined with the Dream. Plan. Home. closing cost credit of up to $5,000, potentially providing an eligible buyer with up to $15,000 in combined down payment and closing cost support.

Location

State IL

County Cook

Area Harvey

Zoning MULTI

Rooms

Basement Partially Finished, Full

Interior

Heating Electric

Equipment Multiple Water Heaters

Fireplace N

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Brick

New Construction false

Schools

School District 152 , 152, 205

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Ryan Widerberg of eXp Realty - Chicago North Ave

NEARBY SCHOOLS & PROPERTIES

Jennifer Justus

Agent

+1(847) 970-0778

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Jennifer Justus

273 E 148th ST Harvey, IL 60426

Key Details

Location

Rooms

Interior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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273 E 148th ST