HOT South Suburb 6 Unit
14612 Keystone Ave. Midlothian, IL 60445
$95,833 Per Unit
** Buyer's Premium Waived
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Purchase at target price with 25% down payment. Upon purchase raise rents to appropriate levels. 2 Bed market rents are $1,250 in the area. Current seller has been VERY slow and inefficient on rental increases. Refinance and pull cash out based on higher value of the property.
About The Property
Fantastic opportunity to own this solid brick 6-unit in investor-friendly Midlothian, IL. The building includes (5) 2-bedroom and (1) 1-bedroom units pulling in a strong $80,400 in gross rents per year. The roof is less than 5 years old and the boiler was replaced less than 24 months ago. The units are all floored with rental-friendly ceramic tile and hardwood flooring. There are 6 private parking spaces at the rear of the property which is located on a beautiful, quiet tree-lined street.
About The Neighborhood
Midlothian is town of roughly 14,000 residents located 17 miles southwest of downtown Chicago. Incorporated in 1927, it is predominantly a residential town with a rich history in the formation of the Illinois Railroads. Despite its relatively small land area, it is home to 6 parks, the Sundrop Prairie Nature Reserve and Midlothian Country Club. Midlothian is renowned for its annual St. Christopher Fiesta, a week’s-long event held in the middle of July.
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