Melrose Park, IL 60160,1912 N 18th AVE
Melrose Park, IL 60160,1912 N 18th AVE
Melrose Park, IL 60160,1912 N 18th AVE
$574,000
Est. payment /mo
$574,000
Est.Price: ?

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5 Beds
SOLD DATE : 06/26/2024

Key Details

Sold Price $574,000

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 12017190

Sold Date 06/26/24

Bedrooms 5

Year Built 1960

Annual Tax Amount $7,778

Tax Year 2021

Lot Dimensions 5262 SQF

Property 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.

Location

State IL

County Cook

Area Melrose Park

Rooms

Basement None

Interior

Heating Natural Gas

Fireplace N

Exterior

Roof Type Asphalt

Building

Water Lake Michigan

New Construction false

Schools

Elementary Schools Rhodes Elementary School

Middle Schools Rhodes Elementary School

School District 84.5 , 84.5, 212

Others

Ownership Fee Simple

Special Listing Condition None

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Midwest Real Estate Data (MRED) IDX
Listed by Sarit Levine • Altogether Realty Corporation
Bought with Anita Ortega • eXp Realty, LLC

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Jaime Birks

+1(708) 925-2352

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