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$799,900

Est. payment - /mo

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7 Beds

3 Baths

3,049 Sqft Lot

Open Sun 12PM-2PM

4624 N Springfield AVE Chicago, IL 60625

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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

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Joseph Misho

josephmisho@epique.me +1(773) 567-6565

Open House

Sun Sep 28, 12:00pm - 2:00pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12481130

Bedrooms 7

Year Built 1908

Annual Tax Amount $5,082

Tax Year 2023

Lot Size 3,049 Sqft

Lot Dimensions 25X125

Property Sub-Type Two to Four Units

Property Description

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.

Location

State IL

County Cook

Area Chi - Albany Park

Zoning MULTI

Rooms

Basement None

Interior

Heating Natural Gas

Equipment CO Detectors, Ceiling Fan(s), Multiple Water Heaters, Water Heater-Gas

Fireplace N

Exterior

Garage Spaces 2.0

Roof Type Asphalt

Building

Dwelling Type Two to Four Units

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Vinyl Siding

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Virtual Tour https://www.youtube.com/watch?v=kpesW832DzA

Listed by Maria DelBoccio of @properties Christie's International Real Estate

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Joseph Misho

Broker | License ID: 475190852

+1(773) 567-6565

4624 N Springfield AVE Chicago, IL 60625

Joseph Misho

Open House

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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4624 N Springfield AVE