$525,000
$499,000
5.2%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
3 Baths
SOLD DATE : 09/05/2024
Key Details
Sold Price $525,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12116284
Sold Date 09/05/24
Bedrooms 6
Annual Tax Amount $4,731
Tax Year 2023
Lot Dimensions 25X125
Property Description
Check out this Exceptional Turn-Key Investment Opportunity in the Northern Austin Neighborhood, bordering Belmont Cragin - This is your end of Summer Must! If you've been debating whether to buy or not, this is your sign to DO IT! This property is perfect for those looking to live in a thriving community while tenants cover the mortgage. The seller's mortgage interest rate of 2.375% can be assumed by the buyer using Roam. This Income-producing building has had zero vacancies in the last five years. The reason is very simple: each unit was refurbished with a seamless blend of modern elegance and functionality. Spacious kitchens equipped with dishwashers, microwave, upgraded stoves and refrigerators. The three spacious bedrooms plus den offer our residents space to grow, entertain and lounge. The cost of doing business is everything when it comes to multi-family ownership. That is why we covered all the essentials; all units have separate heating/cooling and the tenants are responsible for all the utilities. Newer improvements (dating back to 2021/2023) include: 2-car garage, HVAC, A/C, roof, garage, plus updated plumbing & electrical thru-out, ensuring long-term peace of mind and easier property management. CURRENT INCOME STRUCTURE: 1st & 2nd floors with 3BED/1BATH and in-unit W/D:1st Floor: $1,525 + $100 parking | 2nd floor: $1,420 + 100 parking. This property promises immediate income with significant potential for rental growth. Comparable rentals in the area continue to increase, signaling a healthy and sustainable rental market, this property is poised for long-term success. Our long term tenants are on a MTM agreement and have been issued moving notifications in case the buyer needs to occupy or adjust rents to reflect Current Fair Market Values. See comps:(MLS#:11944337) 841 N. Latrobe, Unit 2. This 3bed/1bath apartment rented for $1,850 in 31 days. In comparison, our units offer a more contemporary design in kitchens and bathrooms. We also have larger bedrooms and the 3rd rear bedroom has a tandem room perfect for home office or small child's bedroom or playroom. The second comp (MLS#: 12063794) is located at 1727 N Monitor, Unit 2. This unit rented in 32 days for $1,800 without parking. COMPETITIVE ADVANTAGE: this property in more updated and offers larger bedrooms and coveted amenities. The detached two-car garage and spacious yard further enhance the appeal. This is an ideal opportunity for owner-occupants or investors looking to capitalize on a strong rental market with potential for rental growth and a stable tenant base.
Location
State IL
County Cook
Area Chi - Austin
Zoning MULTI
Rooms
Basement Full, Walkout
Interior
Heating Natural Gas
Equipment CO Detectors, Security Cameras, Water Heater-Gas
Fireplace N
Exterior
Exterior Feature Deck
Parking Features Detached
Garage Spaces 2.0
Community Features Sidewalks, Street Lights, Street Paved
Roof Type Rubber
Building
Lot Description Fenced Yard
Sewer Public Sewer
Water Lake Michigan
New Construction false
Schools
Elementary Schools Lewis Elementary School
Middle Schools Lewis Elementary School
High Schools Orr Community Academy High Schoo
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Hassan Dahik • Coldwell Banker Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "