4253 N Sawyer Avenue

What a beauty! You can live in one unit and rent out all of the other units, and live for practically free. Or, add this building to your rental portfolio! Come on in. Walk into an expansive formal, foyer area and then head to your apartments. Each unit is much larger on the inside than it appears when you look at it from the street level! Enter a formal living room accentuated with its hardwood floors and tall, nine foot ceilings. And enjoy the sun room just off of the living room with its large windows for that crisp, natural sunlight. There is a bedroom right off of the living room, which makes it feel like a private living quarter: and away from everyone else in the unit. Then head down the hallway, which features a common bathroom and yet another bedroom with similar features: high ceilings, ample closet space and spacious rooms! The kitchen is at the rear of the unit and it definitely has enough space for a breakfast table or even a nicely sized dinner table. The other notable feature of each unit consists of the dining room space, which is parallel to the kitchen at the south end of the unit. The dining room area is really large and it can be easily converted into a third bedroom for increased monthly cash flow; simply put, the front living room is large enough and there really is no need for a rear dining room. Similarly, there is a large, two car detached garage; you can use it or rent it for additional income. This beautiful building is close to Cermak Produce, Kedzie Metra, bus stops, Lane Technical High School, Horner Park and the list goes on and on. THE NEXT SECTION FOCUSES ON COMMON QUESTIONS. WHAT TYPES OF FINANCING ARE ALLOWED? Conventional, FHA and VA. We will work with FHA/VA buyers as it relates to lender required repairs. WHAT IS THE PROPERTY ZONED? This building is zoned RS-3. This is a legal 3-unit building. We do not represent the legality of the garden unit. WHAT ARE THE TRUE MARKET RENTS? In its current condition, you can easily collect $1,300 per month in rents for each unit. WHAT ARE THE PRESENT AND PROPOSED MARKET RENTS? In its present condition, you should be able to easily collect $1,300 per month. That brings your gross rental income at $3,900 per month or $46,800 per year. If you rehab each unit, you should be able to easily collect $1,800 per month, or $6,400 per month or $76,800 per year. WHAT REPAIRS ARE NEEDED IN EACH UNIT? Anticipated repairs are purely cosmetic such as, but not limited to, re-sanding hardwood floors, painting, new baseboards, shoes and trim work, updated bathroom and updated kitchen. WHAT ARE THE AGE OF THE MECHANICALS? Per the owner, the following items were replaced in 2010: windows, rubber roof and boiler. AFTER I REHAB IT, HOW MUCH IS THIS BUILDING WORTH? The estimated as-repaired value is conservatively between $750,000 to $800,000 depending on rehab quality. Please consult your agent for comparable sales data. HOW ARE THE UTILITIES DISTRIBUTED? ELECTRICITY: The first, second and third floor each pay their own electricity. The owner pays electricity for the common areas. In 2021, the owner paid $302 for electricity usage in the past 12 months or $25 per month. GAS: The owner pays for the entire building's gas service. In 2021, that gas bill came out to $3,682 for the past 12 months or $307 per month. The first, second and third floor owner's pay for their own cooking (stove) gas, which is inexpensive; for instance, the second floor is owner-occupied and, in 2021, the owner's cooking gas bill was $279 for the past 12 months or $23 per month. WATER: The owner pays for the entire building's water, sewer and garbage usage. In 2021, the estimated water bill is $2,217 per year or $185 per month. This one is a winner for many reasons; namely, interest rates are low, rents are rising and real estate is a great hedge against inflation. NOTE: This is an as-is, where-is sale; inspections may be conducted for information purposes.