7751 S Phillips Avenue, Chicago, IL

$400,000

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7

Beds

About 7751 S Phillips Avenue

Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.

Features of 7751 S Phillips Avenue

MLS® # 12560835
Price $400,000
Bedrooms 7
Bathrooms 0.00
Year Built 1923
Type Residential Income
Sub-Type Two to Four Units
Status Active

Community Information

Address 7751 S Phillips Avenue
Area CHI - South Shore
City Chicago
County Cook
State IL
Zip Code 60649

Amenities

Parking Spaces 3
Parking Off Alley, Alley Access, Yes, Owned
Is Waterfront No
Has Pool No

Interior

Heating Radiant, Radiator(s)
Fireplace No
Has Basement Yes
Basement Unfinished, Full, Walk-Out Access

Exterior

Exterior Brick

School Information

District 299

Additional Information

Days on Market 183
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeFulton Grace Realty

Listing Map

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