Sold
Closed
1912 N 18th Avenue
Melrose Park IL, 60160
$574,000
Sold
Closed
5 Beds
4 Baths
Multi-family
Built in 1960
Courtesy of Altogether Realty Corporation
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.
12017190
MLSⓇ ID
April 2, 2024
Listed
October 2, 2024
Updated
Map
1912 N 18th Avenue
Melrose Park IL, 60160
Interior Features
Bedrooms
5
Total Bathrooms
4
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas
Exterior/Building Features
Roof
Asphalt
School Information
School District
84.5
Elementary School
Rhodes Elementary School
Other Property Details
Area Name
Melrose Park
Taxes
$7,778
Tax Frequency
Annually
Days on Market
32
Garage
No
Parking
Assigned
Parking Total
6
View
No
County
Cook
Municipality
Leyden
Water Source
Lake Michigan
Pool
No
Listing History
Date | Event | Price |
---|---|---|
6/26/2024 | Sold | $574,000 |
5/4/2024 | Under contract | — |
4/26/2024 | Price change | $574,000 -12% |
Courtesy of Altogether Realty Corporation, Sarit Levine,
Listing Contact: 773-749-9522
The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Francesco Campobasso are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
Based on information submitted to the MLS GRID for MRED 10/2/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.
Data last updated 3:51 AM UTC, 10/2/2024