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

 

 

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