USAILMelrose Park1912 N 18Th Ave
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$574,000

Sold

2 years ago

1912 N 18 Th Ave, Melrose Park, IL

MLS® 12017190

5 Bed

4 Bath

--

6 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes $7,778
Lot Size 
Approx. Age 1960
MLS® Number 12017190

Property Address: 1912 N 18th Ave, Melrose Park, IL, 60160-1220

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number12017190
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNo
Approx. Age1960
BasementNone
DrivewayAssigned
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

May 3, 2024End Date
$574,000Sold Price

Sold

Apr 2, 2024List Date
$574,000List Price
  • Commute

Commute

Starting Address
Destination Address
1912 N 18 Th Ave, Melrose Park, IL

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