8624 S Maryland Avenue, Chicago, IL 60619

Units: 5
Price / Unit: $119,000
Est. Cap Rate: 5.04%
Est. GRM: 11.02

Property Overview

Exceptional investment opportunity! This well-maintained 6 unit multi-family property offers a total of 10 bedrooms and 6 bathrooms, making it ideal for both long term and short term rental strategies. Each unit features its own kitchen, living room, and dining area, offering comfortable, fully independent living spaces for tenants or guests. The property is equipped with a 24 hour security surveillance system for added peace of mind. Exterior amenities include six dedicated parking spaces for residents and guests. Two units are currently leased, providing immediate, stable income. Three units are operating as active Airbnb rentals, with one unit already secured for 160 rental days. One additional unfinished unit needing rennovations presents an opportunity for updates and added value.

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income: $54,000
Reported Annual Expenses: $24,000
Estimated NOI: $30,000
Estimated Cap Rate: 5.04%
Estimated GRM: 11.02
Annual Taxes: $6,418 (2024)

Property Details

Units: 5
Building Size: 3,952 SF
Lot Size: 3,150 SF
Lot Acreage: 0.07
Lot Dimensions: 25 x 125.4
Stories: 2
Year Built: 1959
Building Age: Older
Construction: Brick
Roof: Flat, Composition
Zoning: MULTI
Parcel Number: 20353140330000

Operations & Utilities

Heating: Central Bldg Heat
Cooling: None
Electric: Separate Meters
Possession: Closing

Location & Use

County: Cook
Market Area: Chicago - Chatham
Township: Hyde Park
Present Use: Multi-Family
Potential Use: Multi-Family
Frontage: City Street

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.