$525,000
 $2,818 est/mo Sourced by Back At You

3622 W Franklin Boulevard , Chicago, IL 60624

Chicago, IL 60624

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Description

This exceptional three-flat in the vibrant Humboldt Park neighborhood offers a unique opportunity for both investors and owner-occupants to capitalize on a property with tremendous potential. Each of the three spacious units features three bedrooms, one bathroom, In-Unit Washer and Dryer, and a utility/laundry sink-perfect for added convenience. Renovated just four years ago, the property is in excellent condition, awaiting minor touch-ups to reach its full potential. The updated kitchens boast sleek stainless steel appliances, dishwashers, marbled quartz countertops with breakfast bars, and modern white shaker cabinets. Each unit is equipped with central A/C, recessed lighting, and a contemporary color palette, creating a bright and inviting atmosphere. Additional upgrades include tuckpointing and new windows (2020), and the charm of high ceilings and hardwood floors further enhances the appeal. All hot water tanks were replaced in January 2025, providing added peace of mind for future maintenance. The rear numbered parking pad offers the opportunity for additional rental income. Currently, all units are fully occupied with tenants paying below-market rents-two on month-to-month leases and two with CHA vouchers. With minor improvements, you could raise rents to as much as $2,600 per month, making this an ideal property for immediate cash flow and long-term growth. Equity Opportunity and Upside: The seller acknowledges that the property is in a stabilization phase, which is reflected in the heavily discounted asking price. With an after-repair value (ARV) exceeding $650,000, the property offers substantial equity potential of over $125,000. This equity accounts for the effort required to maximize rental income and improve the property's valuation. This property is well-located near shopping, dining, parks, and public transit, with easy access to I-290. The property will be sold as-is and offers the potential to quickly increase rental income and overall property value. Don't miss this opportunity-schedule a showing today! Tenants' rights will apply.

Details

MLS#12158369
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive Under Contract
Year1907
Days On Site151
Listing Provided ByStraight-A Realty, LLC | D'Andre Daye

Features

Bed(s)9
Bath(s)3
ZoningMULTI
Acreage4420.00

Market Activity 60624

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Learn More About This Property

StateIL
CountyCook
CityChicago
Zip Code60624
AreaCHI Humboldt Park
School District299
Elementary School299
Middle School299
High School299
Listing VS Median (in 60624)
Price:
$525,000
low | high
Med:
$219,950
100% of Average
On Site:
151
low | high
Med:
170.500000
88.563049853372% of Average
Sourced by Back At You
Listing Updated: February 9, 2025 at 1:30:05 PM PST