Unlock immediate value with this rare multi-family development opportunity. Currently zoned as a 3-family, this massive 3-floor property comes with approved permits to convert to a 5-family unit. Total area of 8,622 sq ft, boasting 5,258 sq ft of living space, 17 total rooms, and 5 bathrooms. Beautiful hardwood floors and high ceilings. Huge front yard, carport for 1 and 1 additional tandem parking. Overall good condition and ready for the ultimate "fix-and-flip" or "buy-and-hold" for the savvy investor. Skip the zoning headaches—permits are ready for your contractors to initiate the conversion and significantly increase NOI. Located in a high-demand rental area, this property is poised for maximum ROI. Act now to capitalize on this exceptional conversion project. Proximity to shops, restaurants and highway. Don't miss out. First Showing at Open House Sunday 1:30pm-3:00pm
Multi-familyProperty Type
1800Year Built
7,000 sq ftLot Size
$112Est. Price/Sq.Ft.
2 spacesParking
Listed by Ebenezer Pappoe• Weichert REALTORS®, Hope & Associates
Listed by • Weichert REALTORS®, Hope & Associates
Bought with Ebenezer Pappoe• Weichert REALTORS®, Hope & Associates
CASH COW!!! Massive untapped potential out of this 3 family. Over 5,000 sqft of living area. Well maintained by owner of nearly 20 years. Selling because he moved out of state and cannot watch his investment any longer. Property has letters of deleading for all three units! Gas heat, coin op on second floor, landlord panel, and recent renovations. WILL NOT LAST!
MLS PIN #30149823
Jun 25, 1997
Sold
$118,400
$23/sq ft
May 13, 1997
Listing Removed
—
Feb 28, 1997
Listed
$119,900
$23/sq ft
BETTER HOMES:VERY UNIQUE MULTI FAMILY.ONE OF THE OLDEST HOMES ON VERNON HILL.3/4 UNITS MAKE IT GOOD FOR OWNER OCCUPIED OR INVESTOR.EXCELLENT INCOME POTENTIAL.GREAT LOCATION FOR HIGHWAYS & SHOPPING.OFF STREET PARKING FOR 4
Public Records
Oct 2, 1981
Sold
$35,000
$7/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$8,187 (+11.1%)
$84,800 + $486,100
$570,900
2022
$7,372 (−0.4%)
$67,900 + $416,800
$484,700
2021
$7,403 (+7.5%)
$54,300 + $400,400
$454,700
2020
$6,888 (+27.0%)
$53,900 + $351,300
$405,200
2019
$5,425 (−1.3%)
$47,000 + $254,400
$301,400
2018
$5,499 (+6.4%)
$47,000 + $243,800
$290,800
2017
$5,168 (+2.6%)
$47,000 + $221,900
$268,900
2016
$5,037 (+5.5%)
$33,200 + $211,200
$244,400
2014
$4,776 (+10.4%)
$33,200 + $211,200
$244,400
2013
$4,327 (+7.0%)
$37,600 + $195,300
$232,900
2012
$4,045 (−5.2%)
$37,600 + $200,600
$238,200
2011
$4,266 (+5.7%)
$64,800 + $200,800
$265,600
2010
$4,037 (−2.7%)
$64,800 + $201,700
$266,500
2009
$4,150
$79,000 + $228,400
$307,400
Tax history for 93 Fairfax Rd
Year
Property tax
Land + Additions
Assessment*
2023
$8,187 (+11.1%)
$84,800 + $486,100
$570,900
2022
$7,372 (−0.4%)
$67,900 + $416,800
$484,700
2021
$7,403 (+7.5%)
$54,300 + $400,400
$454,700
2020
$6,888 (+27.0%)
$53,900 + $351,300
$405,200
2019
$5,425 (−1.3%)
$47,000 + $254,400
$301,400
2018
$5,499 (+6.4%)
$47,000 + $243,800
$290,800
2017
$5,168 (+2.6%)
$47,000 + $221,900
$268,900
2016
$5,037 (+5.5%)
$33,200 + $211,200
$244,400
2014
$4,776 (+10.4%)
$33,200 + $211,200
$244,400
2013
$4,327 (+7.0%)
$37,600 + $195,300
$232,900
2012
$4,045 (−5.2%)
$37,600 + $200,600
$238,200
2011
$4,266 (+5.7%)
$64,800 + $200,800
$265,600
2010
$4,037 (−2.7%)
$64,800 + $201,700
$266,500
2009
$4,150
$79,000 + $228,400
$307,400
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.