8950 S Aberdeen Street

Welcome to Chicago's Washington Heights neighborhood! This beautiful brick 2-flat was remodeled in 2021 and features a separate living room, separate dining room, open concept kitchen, and an enclosed back porch. Property layout includes a 2 bedroom/1 bath apartment on the first-floor unit and a 2 bedroom/1 bath apartment on the second floor. This multi-family has incredible upside, just add TLC! Great "house-hacking" opportunity - use your ideas to make this the perfect live-in property while generating income to offset your expenses from the other apartments! Other notable features include updated bathrooms, updated kitchens, new paint (2021), recently restored back porch (2021), new concrete sidewalk (2021), newly serviced boiler system, fence enclosed private backyard, and a 2-car garage! The roof was inspected 2 years ago and is in good condition. Both units are occupied by month-to-month tenants, each tenant pays below market value although they are pleasant and current on rent payments. Substantial cash flow and equity upside included in the purchase price! Based on the comparable sales of fully renovated 2-flats within a mile radius of the subject property, this property has the potential to achieve a $350,000+ valuation! Renovated 2-bedroom apartments rent for $1,300+ within a square mile of the subject property. Achieve additional revenue by duplexing the full/unfinished basement or converting it into an in-law suite (there is basement access though the 1st floor unit). Other potential value-add opportunities include renting out the garage and adding a coin operated common area laundry space! This property sits in an ADU zoned area** In 2020 the city of Chicago passed the Additional Dwelling Unit Ordinance which provides owners of multi-units with up to $35,000 in funds in the form of a forgivable loan to create additional living space in the basement or attic! For more ambitious investors, there is potential to rebuild a coach house in the backyard which the ADU ordinance also supports in the effort to pursue an even higher valuation and cash flow upside! Great neighborhood, conveniently located near schools, public transportation, and the expressway. Priced to sell, so please act swiftly! ***Showings will be held every Thursday 10:00am - 11:00am as this is the best date and time that works for the tenants to tour.***