NOT LISTED FOR SALE

11849 S Karlov Ave Alsip, IL 60803

18 Beds
12 Baths
750 Sq Ft
0.3 Acres

Last Sold August 31, 2021

Last sale price $1,140,000 $1,520 Per Sq Ft

11 Days on Market

Highlights

  • 0.3 Acre Lot
  • Heating Available
  • 5-minute walk to Prairie View Park

About This Home

As of August 2021

Incredible value add opportunity. Rarely available 12 unit apartment building. 100% leased with 2 washers and 2 dryers for extra income. (6) one bedroom units and (6) two bedroom units. Building has been meticulously maintained by long term ownership. Multiple updates include: Roof (2020), all balconies were torn down and replaced (2014), each unit has it's own water heater (majority of them are newer), electric boxes with smart meters installed in 2018, most of the units have updated flooring, kitchens and bathrooms. 3 of the 12 units have granite kitchens. New paint, flooring carpet and laminate in common areas (entrance), front and back entrance doors along with canopies replaced in 2018, new parking blocks installed (2019). There is a large gap in certain rents/ 2 beds range from $800 to $1200 for the same quality unit and size. Annual gross income could be increased by an additional $21,000 if all units were brought to current rental rates. All apartments are tenant heated. The new 2020 property taxes will be $23,279 per tax attorney (THIS IS REFLECTED IN NET OPERATING INCOME OF $89,717) Owner(s) are Illinois licensed real estate brokers. Please contact listing broker for full detailed offering memorandum and detailed rent roll.

Last Agent to Sell the Property

Tara Mathew

Prime Equities Corp License #471010016 Listed on: 06/16/2021

Last Buyer's Agent

Martin Murray

Re/Max Premier License #471006713

Re/Max Premier

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,825

Year Built

  • Built in 1974

Lot Details

  • 0.3 Acre Lot
  • Lot Dimensions are 133x100

Home Design

  • Garden Apartment
  • Flat Roof Shape
  • Brick Exterior Construction

Interior Spaces

  • 3-Story Property

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 12 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating Available

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat

Community Details

Overview

  • 12 Units

Building Details

  • Electric Expense $946
  • Insurance Expense $3,310
  • Maintenance Expense $1,800
  • Manager Expense $6,666
  • Trash Expense $1,407
  • Water Sewer Expense $5,589
  • Operating Expense $43,597
  • Gross Income $137,400
  • Net Operating Income $89,717

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,825

Year Built

Built in 1974

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Garden Complex
  • Stories: 3
  • Year Built: 1974
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 12
  • Total Bedrooms: 18
  • Fireplaces: 2
  • Refrigerators: 12
  • Ranges: 12
  • Number of Windows: 18
  • Number of Washers: 2
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • List Price: 1188000
  • Exterior Building Type: Brick
  • Roof Structure: Flat
  • Misc Outside: Balcony/ies

Utilities

  • Cooling: Wall Sleeve
  • Heat/Ventilation: Electric
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Manager Expense: 6666
  • Unincorporated (Y/N): No
  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1407
  • Water Sewer Expenses: 5589
  • Janitor Expense: 600
  • Operating Expense Includes: Insurance,Maintenance,Maintenance Grounds,Manager,New Tax,Professional Management,Trash,Utilities,Water/Sewer,Electricity,Real Estate Tax

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.3
  • Lot Dimensions: 133X100
  • Lot Size Sq Ft: 13300
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Board Number: 20

Multi Family

  • Net Operating Income: 89717
  • Insurance Expense: 3310
  • ElectricExpense: 946
  • GrossIncome: 137400
  • Maintenance Expense: 1800
  • NumberOfUnitsTotal: 12
  • OperatingExpense: 43597
  • Expense Year: 2020
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 19825
  • Tax Year: 2019

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/31/2021 08/31/21 Sold $1,140,000 -4.0% $1,520 / Sq Ft
06/28/2021 06/28/21 Pending -- -- --
06/16/2021 06/16/21 For Sale $1,188,000 0.0% $1,584 / Sq Ft
10/11/2016 10/11/16 Rented $800 0.0% --
10/07/2016 10/07/16 Off Market $800 -- --
10/04/2016 10/04/16 For Rent $800 0.0% --
09/28/2016 09/28/16 Off Market $800 -- --
09/28/2016 09/28/16 For Rent $800 0.0% --
09/25/2016 09/25/16 Off Market $800 -- --
09/22/2016 09/22/16 For Rent $800 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tara Mathew

    Seller's Agent in 2021

    Tara Mathew

    Prime Equities Corp

    (847) 980-7267

    1 in this area

    21 Total Sales

    Tara Mathew
    Section Image
  • Martin Murray

    Buyer's Agent in 2021

    Martin Murray

    Re/Max Premier

    (312) 656-4584

    1 in this area

    21 Total Sales

    Martin Murray
    Section Image
  • Dan Sapato

    Seller's Agent in 2016

    Dan Sapato

    Weichert, Realtors The Home Team

    (708) 218-6703

    2 in this area

    10 Total Sales

    Dan Sapato
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11125625

Midwest Real Estate Data (MRED)
Illinois Cook County Alsip 60803

11849 S Karlov Ave, Alsip, IL

This home is located at 11849 S Karlov Ave, Alsip, IL 60803 since 16 June 2021. This property was built in 1974. 11849 S Karlov Ave is a home located in Cook County with nearby schools including Stony Creek Elementary School, Prairie Jr High School, and A B Shepard High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) Based on information submitted to the MLS GRID. 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. Some IDX listings have been excluded from this website.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked.
Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Nearby Homes