NOT LISTED FOR SALE
10 Beds
5 Baths
-- Sq Ft
1935 Built

Last Sold July 20, 2016

Last sale price $399,900

10 Days on Market

About This Home

As of July 2016

All-brick, 5-unit multi-family building offers positive cash-flow! This price point offers investors a rare opportunity to create significant value, while collecting plenty of rent to pay expenses. Located about a mile from Northwestern's campus, in an exciting area with live-work lofts, start-ups, light-industrial spaces, fitness training centers & residential housing. Originally built in 1935, a large addition was constructed later, likely in the 1950s. The interior units would benefit from modernization and some of the mechanicals could be upgraded, whenever necessary. The roofs are about 5-6 and 7-8 years old. Most of the kitchens & bathrooms are original. Units 1R & 2R have two bedrooms each, large living/dining room combo, separate eating area, and hardwood floors. Units 1F & 2F have two bedrooms each, L-shaped living room, and a separate den off the kitchen. The garden unit also has two bedrooms and a large eat-in kitchen. Multiple photos of each unit are available upon request.

Last Agent to Sell the Property

Bob Parris

Manchester Realty License #471015086 Listed on: 04/11/2016

Last Buyer's Agent

Bob Parris

Manchester Realty License #471015086 Listed on: 04/11/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • 1935

Home Design

  • Brick Exterior Construction

Utilities

  • Window Unit Cooling System

Additional Features

  • Partially Finished Basement

Community Details

  • Fuel Expense $1,953
  • Insurance Expense $2,488

Listing and Financial Details

  • Tenant pays for air conditioning, electric
  • $20,000 Seller Concession

Property Details

Home Type

Multi-Family

Year Built

1935

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Current Use: Residential-Multi-Family
  • Ownership Type: Individual
  • Potential Use: Residential-Multi-Family
  • Utilities To Site: Sanitary Sewer to Site, Sewer-Storm Available, Water-Community
  • Zoning Type: MULTI
  • Estimated Age: Older
  • Net Operating Income Year: 2015
  • Net Oper Income: 39560
  • Outdoor Parking: 1-5 Spaces
  • Repairs Decor Expense: 515
  • Scavenger Expense: 816
  • Total Annual Exp: 18640
  • Total Annual Income: 58200
  • Total Monthly Income: 4850
  • Leased Washer Dryer: Yes
  • Number of Ranges: 5
  • Number Of Refrigs: 5
  • Number Of Stories: 2
  • Estimated Year Built: 1935
  • Type Multi Family: Flats
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1935

Interior Features

  • Basement: Partially Finished

Exterior Features

  • Exterior Building Type: Brick
  • Frontage Access: City Street

Garage/Parking

  • Number Of Parking Spaces: 5

Utilities

  • Air Conditioner: Window Unit/s
  • Heatventilation: Central Bldg Heat, Gas, Baseboard
  • Water Expense: 4375

Condo/Co-op/Association

  • Units in Building: 5

Fee Information

  • Electricity Expense: 1260
  • Electrical Service: Circuit Breakers, Separate Meters
  • Janitor Expense: 401

Lot Info

  • Lot Dimensions: 34 X 134
  • Lot Sq Ft: 9246
  • Land Amenities: Sidewalks, Cable Ready
  • Parcel Identification Number: 10124200240000

Rental Info

  • Gross Rental Income: 58200
  • Tenant Pays: Air Conditioning, Electric

Multi Family

  • Fuel Expense: 1953
  • Insurance Expense: 2488
  • Other Expenses: 720
  • Number Of Dryers: 1
  • Number Of Washers: 1

Tax Info

  • Taxes: 6170.28
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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
07/20/2016 07/20/16 Sold $399,900 0.0% --
04/21/2016 04/21/16 Pending -- -- --
04/11/2016 04/11/16 For Sale $399,900 -- --
Source: Midwest Real Estate Data (MRED)

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
2025 $11,638 $72,000 $8,258 $63,742
2024 $11,638 $48,074 $6,834 $41,240
2023 $11,167 $48,074 $6,834 $41,240
2022 $11,167 $48,074 $6,834 $41,240
2021 $7,457 $28,101 $6,264 $21,837
2020 $5,886 $28,101 $6,264 $21,837
2019 $7,322 $32,487 $6,264 $26,223
2018 $8,624 $31,477 $5,125 $26,352
2017 $8,399 $31,477 $5,125 $26,352
2016 $7,966 $31,477 $5,125 $26,352
2015 $6,170 $23,012 $4,413 $18,599
2014 $6,112 $23,012 $4,413 $18,599
2013 $7,952 $30,646 $4,413 $26,233
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD09192066

Midwest Real Estate Data (MRED)
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