NOT LISTED FOR SALE
16 Beds
6 Baths
-- Sq Ft
1890 Built

Last Sold February 03, 2023

Last sale price $595,000

32 Days on Market

About This Home

As of February 2023

Unique opportunity to acquire cash flowing asset that realizes 10% cap rate with offered chance to use existing managing company. Full occupancy! Long-term tenants. Desired 6 units steel structure brick building with four 3b/1ba and two 2b/1ba apartments! Totally gut-rehabbed in 2020. Hardwood floors throughout, spacious rooms, new windows, updated kitchens, and baths. Separate heat for every unit. Updated electric, plumbing, and threaded and sealed rear porch system. Everything is up to the new code. Exterior safety camera. Free washer and dryer in the basement. Parking in the rear is included in the rent. Excellent location is next to expressway I-94 highway, Red Line train station, and shopping!

Last Agent to Sell the Property

Angela Mana

Barr Agency, Inc License #475188228 Listed on: 09/22/2022

Last Buyer's Agent

Francine Gareave

Coldwell Banker Realty License #475153251

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,664

Year Built

  • Built in 1890

Lot Details

  • Lot Dimensions are 44' x 131'

Home Design

  • Garden Apartment
  • Flat Roof Shape
  • Brick Exterior Construction
  • Steel Siding

Interior Spaces

  • 3-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 6 Bathrooms

Utilities

  • Floor Furnace
  • Separate Meters

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $2,750
  • Fuel Expense $3,187
  • Insurance Expense $3,691
  • Maintenance Expense $1,975
  • Other Expense $395
  • Trash Expense $2,431
  • Water Sewer Expense $4,076
  • Operating Expense $26,571
  • Gross Income $89,580
  • Net Operating Income $63,008

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,664

Year Built

Built in 1890

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: 1890
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,Non-Disclosure Agreement
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 16
  • Misc Inside: Laundry Room
  • Room: 0

Exterior Features

  • Construction Materials: Steel Siding
  • Exterior Building Type: Brick
  • Roof Structure: Flat

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Electric: Separate Meters
  • Heat/Ventilation: Individual Furnaces
  • Leased Washer Dryer YN: Yes

Fee Information

  • Trash Expense: 2431
  • Water Sewer Expenses: 4076

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 44' X 131'

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 2

Multi Family

  • Net Operating Income: 63008
  • Fuel Expense: 3187
  • Insurance Expense: 3691
  • ElectricExpense: 2750
  • GrossIncome: 89580
  • Maintenance Expense: 1975
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 26571
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 5664.35
  • Tax Year: 2020

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/03/2023 02/03/23 Sold $595,000 -5.4% --
10/25/2022 10/25/22 Pending -- -- --
09/22/2022 09/22/22 For Sale $629,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11635577

Midwest Real Estate Data (MRED)