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South Chicago 3-flat with Value Add Potential 7751 S Phillips Ave 3 Unit Apartment Building $577,556 CAD ($192,519 CAD/Unit) 7.70% Cap Rate Chicago, IL 60649
Executive Summary
Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.
Property Facts
| Price | $577,556 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $192,519 CAD | Building Class | C |
| Sale Type | Investment or Owner User | Lot Size | 0.09 AC |
| Cap Rate | 7.70% | Building Size | 4,000 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 | ||
| Price | $577,556 CAD |
| Price Per Unit | $192,519 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.70% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1923/2022 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
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Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
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South Chicago 3-flat with Value Add Potential | 7751 S Phillips Ave
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