11136 South Vernon Avenue
$720,000
12
6
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Description
The recently renovated multifamily property located at 11136 S Vernon Ave, Chicago, IL 60628, presents an exceptional investment opportunity in the thriving South Side market of Chicago. Originally built in 1923 and recently renovated within the past two years, this three-story Class C building spans 6,500 square feet and is competitively priced at $111 per square foot. The purchase price is $720,000. Currently generating a robust monthly gross income of $7,950, with potential increases to $8,800,...The recently renovated multifamily property located at 11136 S Vernon Ave, Chicago, IL 60628, presents an exceptional investment opportunity in the thriving South Side market of Chicago. Originally built in 1923 and recently renovated within the past two years, this three-story Class C building spans 6,500 square feet and is competitively priced at $111 per square foot. The purchase price is $720,000. Currently generating a robust monthly gross income of $7,950, with potential increases to $8,800, the property offers clear financial upside. The initial net operating income (NOI) of $67,904 provides a strong cap rate of 9.43% and a gross rent multiplier (GRM) of 7.55. With projected rent escalations, the NOI is expected to rise to $76,399, enhancing the cap rate to 10.61% and lowering the GRM to 6.82, further solidifying the property's profitability. Strategically located in the dynamic Roseland neighborhood, this asset benefits from proximity to key amenities and services, making it highly desirable for renters. The surrounding area boasts a population of 130,488 within a three-mile radius, an average household income of $64,361, and a median home value of $145,440-factors that further strengthen the investment appeal. With recent renovations, competitive pricing, significant rental growth potential, and attractive financing options, this multifamily property is a perfect addition to any real estate portfolio. It offers both stability and the potential for increased returns
- Listed by Travis Montgomery • Keller Williams ONEChicago
- Listed by Anthony Hardy • Keller Williams ONEChicago
Property Details for 11136 South Vernon Avenue
Area
CHI - Roseland
TownshipHyde Park
ZoningMULTI
LISTING UPDATED: 12/16/2024 12:07 AM
Property Details for 11136 South Vernon Avenue
Status | Active |
---|---|
MLS # | 12254109 |
Days on Market | 16 |
Taxes | $3,172 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 1926 |
Lot Size | 0.12 AC / 5,312 SF |
County | Cook County |
Building Information for 11136 South Vernon Avenue
Stories3Residences6Year Built1926Building Size-Lot Size0.12 AC / 5,312 SF
Property Information for 11136 South Vernon Avenue
Property History for 11136 South Vernon Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 11136 South Vernon Avenue
Taxable ValueLand$6,905Additions$8,094Total$14,999
Tax Record2022$3,094 ($258 / month)
Home Facts
Baths6Total Finished SqFt6,876 SqFtAbove Grade Finished SqFt6,876 SqFtStories3Lot Size5,312 SqFtStyleMulti-Family Res (5+ Units)Year Built1925CountyCOOKAPN25-22-200-027
Schools near 11136 South Vernon Avenue
This home is within Chicago Public Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | 7 to 12 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Pullman Elementary School PublicPK to 8 | ||
Corliss High School Public9 to 12 | ||
Brooks College Prep Academy High School Public7 to 12 | ||
CICS Prairie CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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