472 Spring Street, Elgin, Illinois 60120
$420,000
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For Sale
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| Status: | Active |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 6 |
| Baths: | 0 |
| Year Built: | — |
| Property Taxes: | $7,406 |
| Lot Size: | 0,20 |
Description
Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential 3rd unit coach house development or can be rented to tenants now for indoor parking income. Separately metered gas & electric. Coin-operated commercial washer & dryer in basement shared by both units provides extra income. Second floor tenants maintain lawn and bushes and are responsible for snow removal in exchange for $60/month reduction in rent which is reflected in adjusted Unit 2 current lease amount of $1,640/month. Both apartments are currently leased - start out with strong cash flow right away. Photos are from when both units were vacant prior to tenant occupancy.
Property Specifics
| Multi-unit | |
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| No | |
| 0.2 |
| Kane | |
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| 12704270 | |
| 0611484006 |
Room Specifics
Total Bedrooms: 6
Bedrooms Above Ground: 6
Bedrooms Below Ground: 0
Dimensions: —
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Full Bathrooms: 2
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: —
Other Specifics
| 2 | |
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| 133 X 67 X 133 X 66 | |
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| Not in DB | |
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