1912 N 18th Avenue Melrose Park, IL 60160
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 single-bedroom apartments and one large 2-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. There are 6 parking spots for the tenant's use, as well as 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 the current market value. With brought up to market value rent, the capitalization rate is above 6%. 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 and occupies one apartment.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyCook
- Taxes$7,778
- HOA/Condo/Coop Fees$0
- Days on Site51 Days
- MLS StatusActive Under Contract
- MLS ID Number12017190
- Home Size Source N/A
- Year Built1960
- Lot Size Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Assigned
- Parking Spaces 6
- Basement None
- Property Sub Type Multi Family
- Foundation Concrete Perimeter
- General Information Commuter Bus
- Rooms Total 14
- Lot Size Less Than .25 Acre
- Water Lake Michigan
- Parking Total 6
Interior Features
- Heating Natural Gas
Exterior Features
- Roof Asphalt
- Waterfront Property No
- Other Structures Shed(s)
Community Features
- Township Leyden
- MLS Area Melrose Park