7751 S Phillips Avenue,Chicago, IL 60649
Chicago, IL 60649
Description
Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.
Details
| MLS # | 12560835 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 215 |
| Listing Provided By | Fulton Grace Realty | Jason Marsing |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 |
| Basement | Y |
| Acreage | 0.07 |
Interior
| Rooms Total | 17 |
|---|---|
| Heating | Radiant, Radiator(s) |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Parking Features | Off Alley, Alley Access, Yes, Owned |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Tax Year | 2023 |
|---|---|
| Tax Annual Amount | 3388 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60649 |
| Area | CHI South Shore |
| Listing VS Median (in 60649) | |
Price: $400,000 low | high Med: $88,750 On site: 215 low | high Med: 52 | |
Market Activity 60649
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60649 |
| Area | CHI South Shore |
| Listing VS Median (in 60649) | |
Price: $400,000 low | high Med: $88,750 On site: 215 low | high Med: 52 | |
