F
Seller's Agent in 2024
Fernando Arreguin
Realty of America
(773) 392-3657
1 in this area
12 Total Sales
113 N 16th Ave Melrose Park, IL 60160
West Village NeighborhoodEstimated Value: $348,000
5
Beds
4
Baths
--
Sq Ft
0.76
Acres
About This Home
As of May 2024Investor's Dream in Prime Melrose Park Location! This meticulously maintained 2-unit building, promises not only immediate returns but also substantial future income. Situated in an excellent location, this property stands as a testament to smart real estate investing. With a strong history of generating revenue. Recent upgrades, including a brand-new electrical system and HVAC, ensure efficiency and cost savings for years to come. Thoughtful remodeling has added a fresh, appealing aesthetic, attracting quality tenants. Each unit enjoys its own separate utility meters, including water, providing convenience and transparency for both landlord and tenants. Situated on a double lot, there's ample room for outdoor parking and amenities. This property is being sold in As Is Condition, presenting an opportunity for investors to capitalize on potential value-add improvements. Nestled in the heart of Melrose Park, this property is surrounded by a thriving community and offers easy access to amenities, schools, and transportation. With its income-generating potential, recent upgrades, and strategic location, this property is poised to be a lucrative addition to any investor's portfolio. Don't miss out on this prime investment opportunity.
Last Agent to Sell the Property
Realty of America License #475198663 Listed on: 11/01/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,942
Year Built
- Built in 1882 | Remodeled in 2022
Lot Details
- Lot Dimensions are 52 x 125
- Additional Parcels
Parking
- 2 Car Detached Garage
- 6 Open Parking Spaces
- Parking Space is Owned
Home Design
- Vinyl Siding
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Potential Bedrooms
- 4 Bathrooms
Schools
- Melrose Park Elementary School
- Proviso East High School
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
Community Details
- 2 Units
- Gross Income $31,200
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 1, 2023
Closed on
May 17, 2024
Sold by
Sanchez Leonor and Sanchez Francisco
Bought by
Godinez Hector
Seller's Agent
Fernando Arreguin
Realty of America
Buyer's Agent
Nora Luna
HomeSmart Connect LLC
List Price
$330,000
Sold Price
$340,000
Premium/Discount to List
$10,000
3.03%
Views
600
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$8,000
Avg. Annual Appreciation
1.81%
Original Mortgage
$323,000
Outstanding Balance
$319,142
Interest Rate
6.99%
Mortgage Type
New Conventional
Estimated Equity
$28,858
Purchase Details
Closed on
Jan 22, 2019
Sold by
Perez Maria G
Bought by
Sanchez Leonor and Sanchez Francisco
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
4.87%
Mortgage Type
New Conventional
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Godinez Hector | $340,000 | Stewart Title | |
| Sanchez Leonor | $285,000 | Greater Illinois Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Godinez Hector | $323,000 | |
| Previous Owner | Sanchez Leonor | $180,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/21/2024 05/21/24 | Sold | $340,000 | +3.0% | -- |
| 03/28/2024 03/28/24 | Pending | -- | -- | -- |
| 12/20/2023 12/20/23 | For Sale | $330,000 | 0.0% | -- |
| 12/17/2023 12/17/23 | Pending | -- | -- | -- |
| 12/07/2023 12/07/23 | For Sale | $330,000 | 0.0% | -- |
| 11/18/2023 11/18/23 | Pending | -- | -- | -- |
| 11/01/2023 11/01/23 | For Sale | $330,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,030 | $3,962 | $2,970 | $992 |
| 2023 | $763 | $3,962 | $2,970 | $992 |
| 2022 | $763 | $2,477 | $1,485 | $992 |
| 2021 | $775 | $2,477 | $1,485 | $992 |
| 2020 | $753 | $2,477 | $1,485 | $992 |
| 2019 | $750 | $2,312 | $1,320 | $992 |
| 2018 | $747 | $2,312 | $1,320 | $992 |
| 2017 | $730 | $2,312 | $1,320 | $992 |
| 2016 | $714 | $2,229 | $1,237 | $992 |
| 2015 | $703 | $2,229 | $1,237 | $992 |
| 2014 | $681 | $2,229 | $1,237 | $992 |
| 2013 | $626 | $2,229 | $1,237 | $992 |
Source: Public Records
Agents Affiliated with this Home
-
Fernando Arreguin
-
Nora Luna
Buyer's Agent in 2024
Nora Luna
HomeSmart Connect LLC
(224) 200-2696
2 in this area
28 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11921632
APN: 15-10-215-014-0000
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