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S Harlem Ave, Summit, Home For Sale
6100 S Harlem Ave, Illinois, 60501

S Harlem Ave, Summit, Home For Sale

house for sale
Listed: 06/27/24

6100 S Harlem Ave, Illinois, 60501

Studio Bed:
1 Bath:
Save
Price
$ 765,000

About This House

The Subject Property consists of eight (8) 1-bedroom, 1-bathroom apartments. A new owner can achieve an attractive 8.16% cap rate on current income. Current rents are below market rates presenting an opportunity for an investor to increase rental income by almost 18%, resulting in over a 22% increase in Net Operating Income. The property is all electric, meaning heat is tenant paid. Tenants also benefit from on-site coin laundry.

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Summit Housing & Living

Household Income

Median household income: $47,031
Number of households: 3,159
The average household income in Summit, IL declined from $47,421 to $47,031 in the past year. This data is an estimate based upon 3,159 households in Summit, IL.
The chart below presents how household income is distributed in Summit, IL in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Summit, IL compared to median property taxes around the country. The prevalent amount of property taxes in Summit, IL equals $3k+ , which is more than the national average.