8046 Drexel Ave, Chicago, IL 60619

This six-unit apartment building located at 8046 S Drexel Ave, Chicago, IL 60619, presents a compelling investment opportunity. Priced at $499,000, it boasts a strong 12.34% cap rate and a net operating income (NOI) of $61,589. The price per unit is $83,166. The property is classified as a stabilized investment, indicating consistent rental income. A majority of the units are occupied by subsidized tenants, contributing to the property's financial stability. The building is in good condition, with all units currently well-maintained. A key feature is the potential for adding laundry hookups in the basement, offering an avenue for increased revenue. Showings are flexible, with common areas and potentially one or two units viewable before contract signing. A full building inspection is possible during the due diligence period. The property requires 48-hour notice for showings. This is an excellent opportunity for investors seeking a stable, high-return multifamily investment in a desirable Chicago location. The property's strong occupancy rate and potential for upgrades further enhance its investment appeal. This is a turnkey opportunity with immediate cash flow.