Home in Chicago, IL 60644

About this multi-family building

7-Unit Brick Multifamily | Fully Occupied | Section 8 Income | Value-Add Potential This fully occupied, income-producing 7-unit brick multifamily property offers immediate cash flow, established Section 8 rental income, and substantial potential for future growth. PROPERTY HIGHLIGHTS * 7 spacious residential apartments * 21 bedrooms | 7 bathrooms * fully occupied with established rental income * Existing Section 8 tenancies * Solid brick construction * Individual furnaces and water heaters * Potential for increased rental income through future CHA-approved rent adjustments * Potential to create an 8th residential unit with additional improvements, subject to zoning, permits, and city approval VALUE-ADD & EXPANSION OPPORTUNITY Beyond its existing income stream, this property presents an attractive opportunity for investors looking to maximize long-term returns. Current rental rates offer potential for future increases through market-supported, CHA-approved rent adjustments. Additionally, the property may offer an opportunity to expand from 7 to 8 residential units for an investor willing to undertake the necessary renovations and obtain applicable approvals. The combination of existing cash flow, rental upside, and potential additional unit development makes this an appealing opportunity for investors seeking to expand their multifamily portfolios.