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$614,000

420 N Pine Avenue
Chicago, Illinois 60644

Closed / MLS #12289427 / Multiple Family / Austin
Listing information updated 5/13/2025 at 12:43pm
7-Unit Multifamily Investment in Austin - Value-Add Opportunity! This well-maintained 7-unit brick building, built in 1921, overlooks Levin Park and playground and offers immediate upside with minimal work needed to bring rents to market value. The property includes five 2-bed, 1-bath units, one 1-bed, 1-bath garden unit, and a large studio with condo-quality finishes and a private deck. Each unit has tenant-paid HVAC and hardwood floors. Additional features include a detached 4-car garage, backyard, deck, and a large dry basement for storage. *** With an in-place cap rate of 6.7 and current annual gross income of 69,876, this property has a pro forma cap rate of 12.1 with potential income reaching 102,000. Legacy tenants average rent approx 970/month, while market rents for similar 2-bed units in Austin are 1,474 per MLS. A recent lease (May 2024) at 1,300 (including a garage space) highlights rental upside. *** The vacant studio unit (~1,200 sq. ft.), originally a 2-bed, 1-bath, has been upgraded and includes a private outdoor deck. A new owner can rent it as a studio or convert it back for higher income.*** The building features two separate entryways and staircases for north-side units (420 & 422) and a shared rear staircase on the south side. Immediate cash flow potential exists by renting the vacant studio and reducing insurance costs.*** Ideal for investors looking to expand their portfolio or start in multifamily real estate. Property sold as-is. Proof of funds required.
Water Front:
No
Square Feet:
N/A
Built:
1921
Cooling System:
Central Air
Stories:
3
Current Net Income:
$39,531
Unit 1:
5 room(s) / 2 bed(s) / 1 bath(s)
Unit 2:
4 room(s) / 1 bed(s) / 1 bath(s)
Unit 3:
2 room(s) / 1 bed(s) / 0 bath(s)
Tax Amount:
$6,895
Tax Year:
2023
Zip Code:
60644
City:
Chicago
County:
Cook

Listing Office: Root Realty, Inc.

Listing Office Phone: 773.348.8080

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 5/13/2025 at 12:43pm. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.

Austin, IL

Austin is one of Chicago’s largest communities, stretching from Garfield Park on the east to Oak Park on the west. The west side community is made up of beautiful parks, historic architecture and four distinct neighborhoods: Galewood, The Island, North Austin and South Austin. South Austin is the...

CTA

CTA
Green line at Central
$312,586
Average Sale Price
68
Average Days On The Market
98%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 420 N Pine Avenue, Chicago, IL 60644
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420 N Pine Avenue, Chicago, IL 60644 is a multiple family which sold for $614,000. This multiple family has been listed on @properties Christie's International Real Estate since February 12th, 2025 and was built in 1921. The nearest transit stops include Central CTA Green line.

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