Price Reduction
Address
1914 N 18th Avenue, Melrose Park, IL
Price
$ 624,000
Property Attributes
- MLS#12017174
- TypeMulti-Family
- CountyCOOK
- CityMelrose Park
- AreaMelrose Park
- Zip60160
- Style
- Year Built1971
- Taxes$ 9968
- Price$ 624,000
- Bedrooms7
- Full Bathrooms5
- Half Bathrooms0
Data Source:
Midwest Real Estate Data (MRED)
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 2-bedroom apartments and one large single-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, as well as a shed. Outside you will find 5 parking spots and a common gathering area. The building has a 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 current market value. With brought up to market value rent, the capitalization rate is above 7%. 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.
| Elementary School | Middle School |
|---|---|
| Rhodes Elementary School | Rhodes Elementary School |
| Price History | |
|---|---|
| 4/2/2024 | Listed $699,000 |
| 4/26/2024 | 11% - $624,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Natural Gas |
| Possession | Closing,Tenant's Rights |
| Roof | Asphalt |
| Exterior Features | Outdoor Grill |
| Year Built | 1971 |
| Township | Leyden |
| Tax Year | 2021 |
| Percent Ownership | Fee Simple |
| Gross Income | 29000 |
| County | Cook |
| New Construction | No |
| Property Type | Residential Income |
| Other Structures | Shed(s) |
| Total Rooms | 17 |
| Status | Re-activated |
| Directions | North Ave (Route 64) to 18th Ave N to building |
| City | Melrose Park |
| High School District | 212 |
| MLS Area | Melrose Park |
| Waterfront Y/N | No |
| Street Name | 18th |
| Elementary School | Rhodes Elementary School |
| Tax Annual Amount | 9968 |
| Electric Expense | 801 |
| Middle/Junior High School | Rhodes Elementary School |
| Water Sewer Expense | 1200 |
| Days on Market | 42 |
| Standard Status | Active |
| Middle/Junior School District | 84.5 |
| Elementary School District | 84.5 |
| Property Type | Two to Four Units |
Interior Features
| Basement | None |
|---|---|
| Street Suffix | Avenue |
| Total Bedrooms | 7 |
| Total Baths | 5 |
| Bedrooms Possible | 7 |
| Basement | None |
| Full Baths Building | 5 |
| Total Number of Units | 4 |
Exterior Features
| Water Source | Lake Michigan |
|---|---|
| Total Parking | 5 |
| Lot Dimensions | 5552 |
| Exterior | Brick |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 60160
Price
Taxes
Visits
Year Built
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than NextHome Select Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2024 All rights reserved.Based on information submitted to the MLS GRID as of May 15, 2024 9:56 PM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of May 15, 2024 9:56 PM UTC
