Home Details for 630 N Lorel Avenue

Rare opportunity to acquire a high-performing, turnkey 4-unit brick building on an oversized 50x133 lot with two 2-car garages. Very desirable layout with 2 units on each side of the building. Exceptionally well-maintained and meticulously kept with strong, long-term tenants and pride of ownership throughout. All units are spacious 3BR/1BA with updated kitchens and baths, in-unit washer/dryers, hardwood floors throughout, tall ceilings, large living areas, and ample closet space-highly attractive layouts for tenant retention and rental growth. Building includes circuit breaker electrical, central air and heat, with 3 furnaces and 4 A/C condensers (approx. 4 years old), minimizing near-term capital expenses. Expansive rear porches and a tall, full basement with separate entrances on both sides. The basement includes 4 built-out storage units and offers significant value-add potential for duplex-down or additional units. Property features a new sidewalk and is fully gated for added security. Strong in-place income: $7,055/month and a low operating expenses, making this a compelling cash-flowing asset in today's market. Positioned near Chicago Ave with major ongoing development, including the $37.5M Laramie Bank redevelopment just one block north-driving long-term appreciation and rental demand. Ideal for investors seeking strong cash flow, minimal deferred maintenance, and clear upside potential. Opportunities like this are limited!

• Basement

  • Unfinished
  • Exterior Entry
  • Storage Space
  • Full

• Parking

  • Garage Door Opener
  • Garage
  • Detached

• Heating Information

  • Natural Gas
  • Forced Air

• Water Features

  • Public