About this home

Rare value-add opportunity in Lincoln Heights featuring a 5-unit property with significant vacancy, allowing a new owner to establish market rents from day one and implement a tailored lease-up strategy. Current income reflects existing vacancy, offering a clear path to repositioning and increased returns over time. Property consists of a desirable unit mix including multiple 2-bedroom units and one 3-bedroom unit, appealing to a broad tenant base. Vacancy provides operational flexibility, with no widespread tenant displacement required; one unit may require relocation depending on the buyer's plan. All units are separately metered for gas and electricity, with a single water meter for the property, supporting efficient management and expense control. Market rent potential supports meaningful upside upon stabilization, making this an ideal opportunity for investors seeking a value-add, lease-up play with long-term income growth.

Facts and features

Schools

• Griffin Avenue Elementary School

  elementary · K-5 · 0.2 mi

  4

• Florence Nightingale Middle School

  middle · 6-8 · 1.2 mi

  6

• Sacred Heart Elementary School

  elementary · K-8 · 0.1 mi

• Alliance Susan And Eric Smidt Technology High School

  high · 9-12 · 0.4 mi

  8

• Sacred Heart High School

  high · 9-12 · 0.1 mi

• Albion Street Elementary School

  elementary · K-6 · 0.4 mi

  7

Price history

• Apr 15, 2026 · Listing Removed—
• Apr 15, 2026 · Listed$1,628,000
• Feb 24, 2026 · Price Changed$1,628,000
• Jan 22, 2026 · Price Changed$1,648,000
• Jan 8, 2026 · Price Changed$1,668,000
• Oct 15, 2025 · Listed$1,688,000
• Jun 17, 1977 · Sold$96,000

Tax history

• 2025$6,952 tax · $494,151 assessed
• 2024$3,763 tax · $484,464 assessed
• 2023$3,711 tax · $213,129 assessed
• 2022$3,581 tax · $208,951 assessed
• 2021$3,522 tax · $204,855 assessed
• 2020$3,542 tax · $202,755 assessed
• 2019$3,443 tax · $198,781 assessed
• 2018$3,238 tax · $194,884 assessed

Where it is