1912 N 18th Ave

Melrose Park, IL 60160 View Map $649,000 Schedule a Tour
Beds5
Baths4
On Site16 days
Year1960
Teresa Ryan

Teresa Ryan

(630) 253-7660

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1912 N 18th Ave, Melrose Park, IL 60160 | multi family- 2-4 units for sale
Status: Active
Property Type:Multi Family- 2-4 Units
MLS #:12017190
On Site:16 Days
County:Cook
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.

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$000 Monthly Payment
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Community Information

Address:1912 N 18th Ave, Melrose Park, IL 60160
County:Cook
Township:Leyden
Zip Code:60160

School Information

School District:84.5
Elementary School:Rhodes Elementary School

Architecture

Bedrooms: 5
Bathrooms: 4
Year Built:1960
Exterior Construction Type: Brick
Total # Units in Building: 4
Age Range: 61-70 Years
Roof: Asphalt
Foundation: Concrete Perimeter
Parking Features: Assigned
Parking On Site: Yes
Parking: Space/s
Parking Ownership: Owned

Features / Amenities

Other Structures: Shed(s)
Parking Total: 6
Heat Source / Type: Natural Gas
Total Rooms:14

Property Features

Lot Dimensions:Less Than .25 Acre
Water: Lake Michigan
Transportation: Commuter Bus
Open House Count: 0
Directions:North Ave (Rt 64) to 18th Ave N to building

Tax and Financial Info

Tax Year: 2021
Tax Annual Amount: $7,778
Ownership: Fee Simple
Water / Sewer Expense: $1,200
Electric Expense: $700
Gross Income: $32,000

Schools

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1912 N 18th Ave Melrose Park,  IL 60160
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1912 N 18th Ave Melrose Park, IL 60160
 
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Listing provided courtesy of Altogether Realty Corporation.

Listings courtesy of MRED MLS as distributed by MLS GRID

Based on information submitted to the MLS GRID as of April 17, 2024 5:00 AM CST. 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. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Properties displayed may be listed or sold by various participants in the MLS