Residential Income for Sale: 3622 W Franklin, Chicago, IL 60624
9 beds
$525,000
$525,000
3622 W Franklin,
Chicago, IL 60624
9 beds
$525,000
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Price:
$525,000
Est. payment: Skip to Mortgage Calculator
Type Residential Income
Beds 9
Year Built 1907
City Chicago
County Cook
School District 299
MLS 12158369
Status Active Under Contract
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.
Room Features
Basement Description None
Lot & Building Features
Heating Natural Gas
Parking Description Space/s
Sewer Public Sewer
Tax Year 2023
Water Public
Lot Dimensions 4420 ft
Community and Schools
Elementary School 299
Price History of 3622 Franklin, Chicago, IL
Date | Name | Price | Difference |
---|---|---|---|
12/31/1969 | Listing Price | $525,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
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3622 Franklin (MLS #12158369) is a residential income listing located in Chicago, IL. This property was listed on 09/14/2024 and has been priced for sale at $525,000.
Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information courtesy of: Straight-A Realty, LLC |