1912 18th Avenue, Melrose Park, Illinois 60160
$574,000
|
Sold
|
|
| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 5 |
| Baths: | 0 |
| Year Built: | 1960 |
| Property Taxes: | $7,778 |
| Days On Market: | 537 |
| Lot Size: | 0,00 |
Description
Welcome to a lucrative investment opportunity nestled in the heart of Melrose Park, where prime real estate meets exceptional potential. This investment gem sits within close proximity to shopping centers, central highways, schools, parks, and public transportation. Its strategic location not only enhances its desirability for tenants and investors alike but also presents long-term appreciation in property value. A well-maintained 4-unit brick building comprises of three spacious single-bedroom apartments and one large 2-bedroom unit. Apartments are all in excellent condition with some recent undergone renovations. A Large laundry room with coin operated washer and dryer and additional storage for each apartment is on site. There are 6 parking spots for the tenant's use, as well as newer roof and gutters (2017), new fire-resistant doors and newer water heater. All units are currently occupied by long-term tenants and the rent amount is below the current market value. With brought up to market value rent, the capitalization rate is above 6%. This property offers investors a rare opportunity for substantial returns on their investment in today's flourishing market. Whether you're an experienced investor seeking to diversify your portfolio or a newcomer looking to capitalize on the real estate market's potential. Look no further because this opportunity combined with a very strong rental market demand grants both immediate return on investment and long-term growth. One of the owners is a licensed real estate agent and occupies one apartment.
Property Specifics
| Multi-unit | |
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| — | |
| 1960 | |
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| No | |
| — |
| Cook | |
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| — / — | |
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| 12017190 | |
| 12343060670000 |
Nearby Schools
| NAME: | DISTRICT: | DISTANCE: | |
|---|---|---|---|
|
Grade School
Rhodes Elementary School |
84.5 | — | |
|
Middle School
Rhodes Elementary School |
84.5 | Not in DB | |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 26 Jun, 2024 | Sold | $574,000 | MRED MLS |
| 3 May, 2024 | Under contract | $574,000 | MRED MLS |
| — | Last price change | $649,000 | MRED MLS |
| 2 Apr, 2024 | Listed for sale | $649,000 | MRED MLS |
Room Specifics
Total Bedrooms: 5
Bedrooms Above Ground: 5
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: 0
Rooms: —
Basement Description: None
Other Specifics
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| 5262 SQF | |
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| — | |
| Not in DB | |
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| — | |
| — | |
| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $7,778 |
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Listing Provided By
Altogether Realty Corporation
