5005 W Ferdinand St is a handsome classic Chicago corner all-brick apartment building. This cash-flowing investment opportunity in Chicago's South Austin neighborhood boasts eight two-bedroom units featuring attractive floor plans, newer windows, newer roofs (back porches and porch roofs need work), mostly updated kitchens and baths, and hardwood and laminate flooring. This is a smart investment, with tenant-paid gas (for heating, cooking, and hot water), and tenant-paid electricity for all eight apartments. 6 of 8 units are rented to excellent long-term tenants (some as long as 25+ years). 2 easily rentable apartments are intentionally left empty right now for easy marketing of building. Apartments have been well-maintained and some have been rehabbed. Classic vintage common hallways, some original woodwork and moldings intact, hardwood flooring, lots of natural light from plentiful large windows. Ample street parking. Tremendous commuter location for your tenants by car (8-mile drive to Loop), bicycle (6.8-mile ride along designated bicycle routes), or public transportation (.4-miles to Laramie Green Line el stop, .3-miles to #54 Cicero Ave or .4-miles to #66 Chicago Ave bus stops). Building is a cash machine, a clean investment property that has had many updates by the long-term owner and has a very low expense roll. Net Operating Income $47,574 (Projected Gross Rental Income $110,400 & Projected Net Operating Income $81,174)
