IL > Melrose Park
Melrose Park, IL 60160,1914 N 18th Avenue
Melrose Park, IL 60160,1914 N 18th Avenue
Melrose Park, IL 60160,1914 N 18th Avenue
Melrose Park, IL 60160,1914 N 18th Avenue
Melrose Park, IL 60160,1914 N 18th Avenue
Melrose Park, IL 60160,1914 N 18th Avenue
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COMANDIS Residential

COMANDIS Residential

Realty ONE Group Leaders

+1(773) 453-7515
$ 559,000
Est. payment | /mo

7 Beds

Save
$ 559,000
Est. payment | /mo
Save

7 Beds

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12095359

Bedrooms 7

Year Built 1970

Annual Tax Amount $14,476

Tax Year 2022

Lot Dimensions 5552

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.

Location

State IL

County Cook

Rooms

Basement None

Interior

Heating Steam, Baseboard

Fireplace N

Exterior

Waterfront false

View Y/N true

Parking Type Assigned

Building

Sewer Public Sewer

Water Public

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

© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Sarit Levine • Altogether Realty Corporation

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