3006 S Drake Avenue
Chicago, IL 60623

Status: Active
Multi Family
5 beds
0 baths
0 sq.ft
Listing Price: $420,000

About this home

Welcome to 3006 S. Drake Avenue, a meticulously maintained legal 2-Flat located in the heart of the vibrant Little Village neighborhood of Chicago. Updated from nearly top to bottom, this property offers an excellent opportunity for an investor to come into a turnkey, fully leased scenario with little to do. The top unit is a duplex which spans two levels and features 3 bedrooms and 2 bathrooms, boasting a complete renovation in 2018 with all new windows, kitchen, bathrooms, appliances and flooring. The lower unit, fully rehabbed in 2022, includes 2 bedrooms, 1 bathroom, and all new windows, kitchen, bathroom, appliances, and HVAC. Both units enjoy separate HVAC systems, water heaters, washer/dryers, ranges, refrigerators, and microwaves, ensuring maximum comfort and convenience for all residents. Completing this fantastic property is a beautifully landscaped yard perfect for relaxation and gatherings, along with a two-car garage accessible via the alley. Other recent upgrades include a new roof in 2023 and new electrical panels for both units. All utilities are separately metered, owner only pays for water / city trash service. Nestled in a culturally rich area known for its diversity and friendly community, this property is conveniently located off the Steven Expressway and between Cicero Avenue and Western Avenue, providing easy access to all parts of the city. The Little Village neighborhood is renowned for its vibrant atmosphere, with an array of local shops, eateries, and cultural events that make it a bustling and welcoming community. Don't miss this exceptional opportunity to own a piece of Little Village's charm and culture. Book a showing today!

Property details

Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 100+ Years
3 Bedroom Unit in Building Yes
Approx Year Built 1903
Parking Total 2
Exterior Building Type Brick
Foundation Concrete Perimeter
Garage Details Garage Door Opener(s)
Parking On-Site Yes
Garage Type Detached
Parking Spaces Count 2
Parking Garage
Rehab Year 2022
Roof Type Asphalt
MRD Virtual Tour None
School / Neighborhood, Utilities, Financing, Location Details
Area Major CHI - South Lawndale
Corporate Limits Chicago
Directions Traveling North on Cicero Avenue, Turn right on to 30th Street and travel East. Turn right on Drake Avenue and the property will be on your right.
Elementary Sch Dist 299
Heat/Fuel Natural Gas, Forced Air
High Sch Dist 299
Sewer Public Sewer
Water Lake Michigan, Public
Jr High/Middle Dist 299
Township Lake
Interior Features
Basement Description None
Basement Bathrooms No
Basement None
Bedrooms Count 5
Bedrooms Possible 5
Baths Count 3
Full Baths in Building Count 3
Total Rooms 9
Units
unit 1
Beds Total 2
Baths Total 1
Actual Rent 1350
Appliances And Features None
Full Baths Total 1
Lease Expiration Date 08/25
Rooms Total 4
Security Deposit 1250
Tenant Pays Electric, Gas, Heat
Floor Number 1
unit 2
Beds Total 3
Baths Total 2
Actual Rent 2000
Appliances And Features None
Full Baths Total 2
Lease Expiration Date 02/25
Rooms Total 5
Tenant Pays Electric, Gas, Heat
Floor Number 2
Property / Lot Details
Lot Dimensions 25X125
Lot Size Source County Records
Lot Size Less Than .25 Acre
Ownership Fee Simple
Type Unit 2 Flat
Number Of Units in Building 2
Property Type Two to Four Units

Financials

Gross Rental Income $40,200
Insurance Expense $2,200
Insurance Expense Source Broker Projection
Janitor Expense $600
Net Oper Income $32,996
Rental Income 40200
Investment Profile Residential Income
Water Expense $1,200

Tax/Assessments/Liens

PIN 16264240260000
Special Assessments N
Taxes $3,204
Tax Exemptions Homeowner
Tax Year 2022
$420,000 Listing Price:
MLS # 12088391
Investment Profile Residential Income
Listing Market Time 5 days
Basement None
Type Unit 2 Flat
Number of Units in Building 2
Parking Garage
List Date 06/24/2024
Year Built 1903
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