NOT LISTED FOR SALE

1912 N 18th Ave Melrose Park, IL 60160

5 Beds
4 Baths
-- Sq Ft
1960 Built

Last Sold June 26, 2024

Last sale price $574,000

30 Days on Market

About This Home

As of June 2024

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.

Last Agent to Sell the Property

sarit levine

Altogether Realty Corporation License #475186411 Listed on: 04/02/2024

Last Buyer's Agent

Anita Ortega

eXp Realty License #475205448

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,778

Year Built

  • Built in 1960

Home Design

  • Brick Exterior Construction
  • Asphalt Roof
  • Concrete Perimeter Foundation

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Potential Bedrooms
  • 4 Bathrooms

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Parking Included in Price
  • Assigned Parking

Outdoor Features

  • Shed

Schools

  • Rhodes Elementary School

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

Overview

  • 4 Units

Building Details

  • Electric Expense $700
  • Water Sewer Expense $1,200
  • Gross Income $32,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,778

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1960
  • Age: 61-70 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: Commuter Bus
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • MonthToMonthYN: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 5
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 4
  • Half Bathrooms in Building: 0

Exterior Features

  • Foundation Details: Concrete Perimeter
  • List Price: 574000
  • OtherStructures: Shed(s)
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • OpenParkingSpaces: 6
  • Parking Features: Assigned
  • ParkingTotal: 6
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Heating: Natural Gas
  • Water Source: Lake Michigan

Fee Information

  • Water Sewer Expenses: 1200

Schools

  • Elementary School: Rhodes Elementary School
  • Middle/Junior School: Rhodes Elementary School
  • Middle/Junior School District: 84.5

Lot Info

  • Lot Dimensions: 5262 SQF
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: Yes

Multi Family

  • ElectricExpense: 700
  • GrossIncome: 32000
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 7778
  • Tax Year: 2021

Range of Values:

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Average Value
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List Price
Sold Price
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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 Change Sq Ft Price
06/26/2024 06/26/24 Sold $574,000 0.0% --
05/03/2024 05/03/24 Pending -- -- --
04/26/2024 04/26/24 Price Changed $574,000 -11.6% --
04/02/2024 04/02/24 For Sale $649,000 +16.9% --
03/12/2018 03/12/18 Sold $555,000 -10.5% --
02/02/2018 02/02/18 Pending -- -- --
01/09/2018 01/09/18 Price Changed $619,900 -3.1% --
12/20/2017 12/20/17 For Sale $639,900 -- --
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: 12017190

Midwest Real Estate Data (MRED)