11849 S Karlov Avenue Alsip, IL 60803

Incredible value add opportunity. Rarely available 12 unit apartment building. 100% leased with 2 washers and 2 dryers for extra income. (6) one bedroom units and (6) two bedroom units. Building has been meticulously maintained by long term ownership. Multiple updates include: Roof (2020), all balconies were torn down and replaced (2014), each unit has it's own water heater (majority of them are newer), electric boxes with smart meters installed in 2018, most of the units have updated flooring, kitchens and bathrooms. 3 of the 12 units have granite kitchens. New paint, flooring carpet and laminate in common areas (entrance), front and back entrance doors along with canopies replaced in 2018, new parking blocks installed (2019). There is a large gap in certain rents/ 2 beds range from $800 to $1200 for the same quality unit and size. Annual gross income could be increased by an additional $21,000 if all units were brought to current rental rates. All apartments are tenant heated. The new 2020 property taxes will be $23,279 per tax attorney (THIS IS REFLECTED IN NET OPERATING INCOME OF $89,717) Owner(s) are Illinois licensed real estate brokers. Please contact listing broker for full detailed offering memorandum and detailed rent roll.