Bought with Jim Starwalt of Better Homes and Gardens Real Estate Star Homes
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Key Details
Sold Price $172,500
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 10593059
Sold Date 02/11/20
Style Ranch
Bedrooms 4
Year Built 1941
Annual Tax Amount $3,685
Tax Year 2018
Lot Size 7,405 Sqft
Lot Dimensions 50 X 150
Property Sub-Type Two to Four Units
Property Description
Cash flow generator with long-term tenants in Downtown Business District, one block from Pistakee Lake and 0.3 miles to Metra station. This turn-key already generates a 6.9% overall cap rate with potential for more. West unit rent is $900, but enjoys view of Pistakee Lake and use of side yard. Interiors of both units were completely remodeled in 2013-2014, after furnace and windows were replaced, and both units were rewired. Siding and gutters were done in 2019. Roof was done in 2007 and furnace replaced in 2008. Can be had with 13 W Grand (2-unit) and 15 W Grand (2-BR SFH). Combined, the five-unit portfolio generates a 7.8% cap rate.
Location
State IL
County Lake
Community Sidewalks, Street Lights, Street Paved
Zoning COMMR
Rooms
Basement Partial
Interior
Heating Natural Gas
Fireplace N
Exterior
View Y/N true
Roof Type Asphalt
Building
Lot Description Water View
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction false
Schools
High Schools Grant Community High School
School District 114, 114, 124
Others
Ownership Fee Simple
Special Listing Condition None
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