1427 Laramie Avenue, Austin, Chicago, Illinois 60651
$525,000
|
Sold
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| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 6 |
| Baths: | 0 |
| Year Built: | — |
| Property Taxes: | $4,731 |
| Days On Market: | 411 |
| Lot Size: | 0,00 |
Description
Check out this Exceptional Turn-Key Investment Opportunity in the Northern Austin Neighborhood, bordering Belmont Cragin - This is your end of Summer Must! If you've been debating whether to buy or not, this is your sign to DO IT! This property is perfect for those looking to live in a thriving community while tenants cover the mortgage. The seller's mortgage interest rate of 2.375% can be assumed by the buyer using Roam. This Income-producing building has had zero vacancies in the last five years. The reason is very simple: each unit was refurbished with a seamless blend of modern elegance and functionality. Spacious kitchens equipped with dishwashers, microwave, upgraded stoves and refrigerators. The three spacious bedrooms plus den offer our residents space to grow, entertain and lounge. The cost of doing business is everything when it comes to multi-family ownership. That is why we covered all the essentials; all units have separate heating/cooling and the tenants are responsible for all the utilities. Newer improvements (dating back to 2021/2023) include: 2-car garage, HVAC, A/C, roof, garage, plus updated plumbing & electrical thru-out, ensuring long-term peace of mind and easier property management. CURRENT INCOME STRUCTURE: 1st & 2nd floors with 3BED/1BATH and in-unit W/D:1st Floor: $1,525 + $100 parking | 2nd floor: $1,420 + 100 parking. This property promises immediate income with significant potential for rental growth. Comparable rentals in the area continue to increase, signaling a healthy and sustainable rental market, this property is poised for long-term success. Our long term tenants are on a MTM agreement and have been issued moving notifications in case the buyer needs to occupy or adjust rents to reflect Current Fair Market Values. See comps:(MLS#:11944337) 841 N. Latrobe, Unit 2. This 3bed/1bath apartment rented for $1,850 in 31 days. In comparison, our units offer a more contemporary design in kitchens and bathrooms. We also have larger bedrooms and the 3rd rear bedroom has a tandem room perfect for home office or small child's bedroom or playroom. The second comp (MLS#: 12063794) is located at 1727 N Monitor, Unit 2. This unit rented in 32 days for $1,800 without parking. COMPETITIVE ADVANTAGE: this property in more updated and offers larger bedrooms and coveted amenities. The detached two-car garage and spacious yard further enhance the appeal. This is an ideal opportunity for owner-occupants or investors looking to capitalize on a strong rental market with potential for rental growth and a stable tenant base.
Property Specifics
| Multi-unit | |
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| No | |
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| Cook | |
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| — / — | |
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| 12116284 | |
| 16042060090000 |
Nearby Schools
| NAME: | DISTRICT: | DISTANCE: | |
|---|---|---|---|
|
Grade School
Lewis Elementary School |
299 | — | |
|
Middle School
Lewis Elementary School |
299 | Not in DB | |
|
High School
Orr Community Academy High Schoo |
299 | Not in DB | |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 10 Jun, 2021 | Sold | $430,000 | MRED MLS |
| 5 Apr, 2021 | Under contract | $469,000 | MRED MLS |
| 1 Apr, 2021 | Listed for sale | $469,000 | MRED MLS |
| 5 Sep, 2024 | Sold | $525,000 | MRED MLS |
| 6 Aug, 2024 | Under contract | $499,000 | MRED MLS |
| 27 Jul, 2024 | Listed for sale | $499,000 | MRED MLS |
Room Specifics
Total Bedrooms: 6
Bedrooms Above Ground: 6
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
Dimensions: —
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Floor Type: —
Dimensions: —
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Full Bathrooms: 3
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: Finished,Exterior Access,Egress Window,8 ft + pour
Other Specifics
| 2 | |
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| 25X125 | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2021 | $3,802 |
| 2024 | $4,731 |
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Listing Provided By
MPower Residential Brokerage LLC
