7446 South Luella Avenue
$729,900
9
6
6,000
6,000
$122
Description
No expense has been spared in this completely rebuilt multi unit in 74th block of South Shore. Brought down to the studs and most studs replaced. Literally to much to list that is new. I'm pretty sure the only thing that is original are the stairs and the brick. This property is ready for any FHA OR VA financing. FHA will go up to 770,000 on a 3 unit building. FHA will also count 75% of the rentable income in the building. These units will rent for 2200 each. If you live in one and rent 2 that is...No expense has been spared in this completely rebuilt multi unit in 74th block of South Shore. Brought down to the studs and most studs replaced. Literally to much to list that is new. I'm pretty sure the only thing that is original are the stairs and the brick. This property is ready for any FHA OR VA financing. FHA will go up to 770,000 on a 3 unit building. FHA will also count 75% of the rentable income in the building. These units will rent for 2200 each. If you live in one and rent 2 that is an additional 3,300 a month of income ( 4400 x 75% = 3300 or 40,000 a year). Put down 20% and you live in a brand new building almost for free. 7446 Luella is not your typical flip. Cornerstone Construction rebuilt this 2 unit, 3 bed 1.5 bath into a 3 UNIT, 3 BED 2 BATH IN UNIT LAUNDRY, CENTRAL A/C, 2000 square foot home for each unit. Stainless steel appliances quartz countertops, hardwood floors , recessed lighting. Newer electrical, updated plumbing and hvac, roof, drywall, lighting, floors.... everything. If you are an investor that is looking for a turn key property that you wont have to worry about for a long time this is it. put 20% down, and this thing prints cash. If you are a first time home buyer, this is a great option for you, everything is done, up to you, put the minimum down and pay very little or put 20% down and pay almost nothing, with your tenants paying your mortgage. Like anywhere in Chicago you can go from one street to the next and one can be a great street and the next, keep driving. The owner grew up in this area of Chicago and knows that this area is where you want to live and raise a family. The neighbors are great too. Nationwide, new rules as of august 17th, if you are a renter or a buyer, you must, sign some sort of buyer agency agreement document to enter the building. You can have representaion with a realtor or represent yourself, still need to sign the paper. Not negotiable.
- Listed by Kevin Glover • eXp Realty, LLC
Property Details for 7446 South Luella Avenue
Area
CHI - South Shore
TownshipHyde Park
OwnershipFee Simple
Num Of Garage Spaces2.0
Num Of Parking Spaces2.0
Parking Included in PriceYes
Heat/FuelNatural Gas
LISTING UPDATED: 09/18/2024 11:28 AM
Property Details for 7446 South Luella Avenue
Status | Re - Activated |
---|---|
MLS # | 12144874 |
Days on Market | 31 |
Taxes | $3,821 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Two to Four Units / 3 Flat |
Year Built | 1928 |
Lot Size | 0.07 AC / 3,125 SF |
County | Cook County |
Building Information for 7446 South Luella Avenue
Stories-Residences3Year Built1928Building Size-Lot Size0.07 AC / 3,125 SF
Property Information for 7446 South Luella Avenue
Property History for 7446 South Luella 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 7446 South Luella Avenue
Taxable ValueLand$5,483Additions$16,516Total$21,999
Tax Record2022$3,821 ($318 / month)
Home Facts
Baths4Total Finished SqFt3,868 SqFtAbove Grade Finished SqFt3,868 SqFtStories2Lot Size4,387 SqFtStyleMulti-Family Res (5+ Units)Year Built1928CountyCOOKAPN20-25-225-023
Schools near 7446 South Luella Avenue
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Bouchet Elementary Math & Science Academy PublicPK to 8 | ||
Chicago Vocational Career Academy High School Public9 to 12 | ||
South Shore Intl Col Prep High School Public9 to 12 | ||
Excel Academy - Woodlawn HS Public9 to 12 |
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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