16 E 118th PlaceChicago, IL 60628

Description

This well-kept four-unit brick turnkey performer in West Pullman offers fresh appeal for both owner-occupants and investors. All units received full renovations in 2023, delivering modern two-bedroom, one-bath layouts with white shaker cabinets, quartz counters, and all new appliances. Three units currently rent for a combined $3,400 monthly gross income, with tenants handling heat, electric, and gas. The fourth unit remains vacant, ideal for an owner-occupant to move in and ofset costs with rental income from the others, or to lease for stronger cash flow. The setup fully rented delivers a solid 10 cap rate on today's numbers, and with local two-bedroom rents averaging around $1,400-$1,550 recently, there's clear potential to increase as leases renew. On-site coin laundry provides steady extra income with minimal effort. With Metra access, nearby parks and the upcoming addition of a Hampton by Hilton hotel to local anchors, Chik-Fil-A, Gotham Greens, Method, Amazon and other national chains, West Pullman offers a mix of affordability and upside with ongoing interest and rising values.

Property Information

Property type

Residential Income

Sub-type

Multi Family

Lot dimensions

25 X 125

Ownership

Fee Simple

Zoning

MULTI

Days on market

84

MLS^® Listing#

12733362

Property Features

Cooling

Ceiling Fan(s)

Heating

Electric

Basement

Crawl Space

Construction

Brick

Other structures

Other

Utilities

Cable Available

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$2,659Tax year 2024

Parcel number

25223180170000

Directions

118th PL E/W to PROPERTY; OFF OF 119TH WABASH