7656 S Colfax Avenue
Chicago, IL 60649

7656 S. Colfax, built in 2008, is comprised of (3) 3bd 2ba units boasting approximately 1150 sf of living space. All of the in-unit improvements included, but limited to: Kitchen Cabinets, granite Counter Tops & Mosaic Tile Backsplashes, Hardwood Floors, Brush Nickel Faucets. SS Appliances, Bathrooms, light fixtures, ceiling fans, and individual HVACs. This fantastic 3-flat provides an investor the opportunity to acquire their first property or a seasoned investor who wants to add more units with low density and grow their exiting portfolio. All three units are with CHA tenants where CHA pays 100% for two of the units about approx 60% for the third unit. The current Gross Scheduled Rent income is $36,876, but in this listing, a estimated 5% vacancy/credit loss is taken into consideration which brings the Gross Operating Income to $35,032. Furthermore, with lease improvements, the Gross Rents have the potential of reaching $46,800 on a year 1 proforma. The second option is to purchase this property as an owner-occupied buyer and take advantage of the rents from the other units to cover your mortgage and then some! **NOTE** This property can also be purchased with 7542 S. Colfax (same owner) MLS#11188329 . Call listing agent for more details on all opportunities.