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1914 N 18th Avenue

Melrose Park, IL 60160
  • $559,000
  • STATUS: Active
  • ON SITE: 132 Days
  • MLS #: 12095359
$559,000
  • 7
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1970
County:
Area:

School Information

Elementary School:
Middle School:
School District:

Description

Welcome to a lucrative opportunity nestled in the heart of Melrose Park, where prime real estate meets exceptional potential. This property offers a blend of comfortable living space and exceptional rental income potential, making it ideal for investors looking to maximize returns in the real estate market, as well as a unique option to have a unit to reside in. This investment gem sits within close proximity to constantly developing shopping centers, major 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 2-bedroom apartments and one large single-bedroom unit. A Large laundry room with coin operated washer and dryer and additional storage for each apartment. A Shed located in the back of the property, along with a common picnic area. The building also has 5 parking spots, a highly-desirable feature in the area. The building is equipped with a newer roof and gutters (2017) as well as new fire-resistant doors. All units are currently occupied by long-term tenants. With the current lower rents, the capitalization rate is 6.15 precent . With brought up to market value rent, the capitalization rate rises above 8.4 precent ! This property offers investors a rare opportunity for substantial returns on their investment in today's flourishing market. Whether you're looking to diversify your portfolio, generate passive income, or secure a residence with income potential, this investment promises to deliver both financial rewards and lifestyle benefits. One of the owners is a licensed real estate agent.

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© 2024 Midwest Real Estate Data LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2024-11-05T23:59:12.167 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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1914 N 18th Avenue Melrose Park, IL 60160

  • Price: $559,000
  • Status: Active
  • On Site: 132 Days
  • MLS #: 12095359
7
Beds
0
Baths
0
½ Baths
N/A
Acres
1970
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Elementary School:
Rhodes Elementary School
Middle School:
Rhodes Elementary School
School District:
84.5
Property Description
Welcome to a lucrative opportunity nestled in the heart of Melrose Park, where prime real estate meets exceptional potential. This property offers a blend of comfortable living space and exceptional rental income potential, making it ideal for investors looking to maximize returns in the real estate market, as well as a unique option to have a unit to reside in. This investment gem sits within close proximity to constantly developing shopping centers, major 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 2-bedroom apartments and one large single-bedroom unit. A Large laundry room with coin operated washer and dryer and additional storage for each apartment. A Shed located in the back of the property, along with a common picnic area. The building also has 5 parking spots, a highly-desirable feature in the area. The building is equipped with a newer roof and gutters (2017) as well as new fire-resistant doors. All units are currently occupied by long-term tenants. With the current lower rents, the capitalization rate is 6.15 precent . With brought up to market value rent, the capitalization rate rises above 8.4 precent ! This property offers investors a rare opportunity for substantial returns on their investment in today's flourishing market. Whether you're looking to diversify your portfolio, generate passive income, or secure a residence with income potential, this investment promises to deliver both financial rewards and lifestyle benefits. One of the owners is a licensed real estate agent.
Exterior Features

Exterior Building Type Brick Lot Size Less Than .25 Acre Multi Family Type 4 Flat Parking Details Space/s Parking Features Assigned Parking Onsite Yes Parking Total 5 Waterfront YN No

Interior Features

Basement None Basement Bathrooms YN No Basement Details None Bedrooms Below Grade 0 Bedrooms Total 7 Full Baths In Building 5 Half Baths In Building 0 Heating SteamBaseboard Rooms Total 17

Property Features

Age 51-60 Years Built Before1978 YN Yes Corporate Limits Melrose Park General Information School Bus ServiceCommuter BusFlood Zone Gross Income 54400 Mls Actual Status Active Net Operating Income 35000 New Construction YN No Other Additional Income Coin Laundry Ownership Fee Simple Rebuilt YN No Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 14476 Tax Year 2022 Total Numberof Unitsin Building 4 Total Rental Income 53400 Township Leyden Type Two to Four Units Water Source Public

Listing information © 2024 Midwest Real Estate Data LLC.
Listing provided courtesy of Altogether Realty Corporation: 847-915-0889.


© 2024 Midwest Real Estate Data LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2024-11-05T23:59:12.167 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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