2904 S Wells Street
Property Description
Excellent investment opportunity in the desirable neighborhood! This well-maintained multi-unit property features a total of 7 residential units , offering multiple streams of rental income. The front building includes a 3 bed/1 bath unit on the first floor, a 2 bed/1 bath unit on the second floor, and a 1 bed/1 bath unit on the third floor, while the rear building consists of three 2 bed/1 bath units. Additional income is generated from the coach house unit and parking space. The property is in solid condition, with 6 units featuring central heating and cooling and 1 unit equipped with central heat and window AC. Current rents are below market and have not been increased in years, presenting a strong value-add opportunity for investors to enhance cash flow through future rent adjustments. The versatile unit mix appeals to a wide tenant base and helps minimize vacancy. Conveniently located near transportation, restaurants, and local amenities, this is an ideal asset for both seasoned investors and those seeking stable long-term income.
Broker Details
Kale Realty (312) 939-5253
MLS ID: 882869 State License Number: 475171061
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,080,000 |
| No. of Units: | 7 |
| Year Built: | 1885 |
| Opportunity Zone: | No |
| Price per unit: | $154,286 |
| Property Website | Click Here |
| Number of Bedrooms: | 14 |
| Number of Bathrooms: | 7 |
ID: 3yd-MREDIL-12614240
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