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Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 11796776
Sold Date 05/20/24
Maintenance Fees $10,300
Year Built 1945
Annual Tax Amount $34,993
Tax Year 2021
Lot Size 0.420 Acres
Lot Dimensions 135X135
Property Description
Buyer suffered cold feet is your opportunity now to be the new buyer/owner. **Price Reduction** Prime Melrose Park Multi-Family consisting of a 2-story brick & stone building containing 20 residential apartments (made up of 10 one-bedroom and 10 two-bedroom apartments). All have leases mostly in place early 2024. Has 22 parking spaces. Healthy generating NOI and with further room to grow by decreasing expenses and bringing units closer to market rent. In addition, the 8,000 square foot basement can be sub divided for further rental income to either tenant storage, or two businesses. Plus, even more additional income is available by finishing the coin operated laundry room on 1st floor by adding 2 washers / 2 dryers, and if separate office space is rented out. This property is ideally located with many employment opportunities, retail, and restaurants all within short walking distance. If you're looking to add a cash cow to your portfolio, this is the one.
Location
State IL
County Cook
Area Melrose Park
Zoning MULTI
Interior
Cooling Wall Sleeve
Fireplace N
Exterior
Utilities Available Water-Municipal, Cable Available
Roof Type Composition,Membrane,Rubber,Varies
Building
Level or Stories 2
Structure Type Brick,Stone
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Basel Tarabein • RE/MAX At Home