22
See all 22 photos
$525,000
Est. payment /mo
9 BD
3 BA
Active
3622 W Franklin BLVD Chicago, IL 60624
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UPDATED:
01/08/2025 06:07 AM
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12158369
Bedrooms 9
Year Built 1907
Annual Tax Amount $7,194
Tax Year 2023
Lot Dimensions 4420
Property Description
This exceptional three-flat in the vibrant Humboldt Park neighborhood offers a unique opportunity for both investors and owner-occupants to capitalize on a property with tremendous potential. Each of the three spacious units features three bedrooms, one bathroom, In-Unit Washer and Dryer, and a utility/laundry sink-perfect for added convenience. Renovated just four years ago, the property is in excellent condition, awaiting minor touch-ups to reach its full potential. The updated kitchens boast sleek stainless steel appliances, dishwashers, marbled quartz countertops with breakfast bars, and modern white shaker cabinets. Each unit is equipped with central A/C, recessed lighting, and a contemporary color palette, creating a bright and inviting atmosphere. Additional upgrades include tuckpointing and new windows (2020), and the charm of high ceilings and hardwood floors further enhances the appeal. All hot water tanks were replaced in January 2025, providing added peace of mind for future maintenance. The rear numbered parking pad offers the opportunity for additional rental income. Currently, all units are fully occupied with tenants paying below-market rents-two on month-to-month leases and two with CHA vouchers. With minor improvements, you could raise rents to as much as $2,600 per month, making this an ideal property for immediate cash flow and long-term growth. Equity Opportunity and Upside: The seller acknowledges that the property is in a stabilization phase, which is reflected in the heavily discounted asking price. With an after-repair value (ARV) exceeding $650,000, the property offers substantial equity potential of over $125,000. This equity accounts for the effort required to maximize rental income and improve the property's valuation. This property is well-located near shopping, dining, parks, and public transit, with easy access to I-290. The property will be sold as-is and offers the potential to quickly increase rental income and overall property value. Don't miss this opportunity-schedule a showing today! Tenants' rights will apply.
Location
State IL
County Cook
Area Chi - Humboldt Park
Zoning MULTI
Rooms
Basement None
Interior
Heating Natural Gas
Fireplace N
Exterior
Roof Type Rubber
Building
Dwelling Type Two to Four Units
Sewer Public Sewer
Water Public
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by D'Andre Daye • Straight-A Realty, LLC