NOT LISTED FOR SALE
7 Beds
4 Baths
-- Sq Ft
1910 Built

Last Sold June 03, 2014

Last sale price $795,000

8 Days on Market

Highlights

  • Deck
  • 2 Car Detached Garage
  • Patio
  • Lincoln Park High School Rated A
  • Intercom
  • Ceiling Fan

About This Home

As of June 2014

Let the numbers do the talking. 6.9% CAP rate at current rents. There is room to increase this to 7.7% Cap rate. Unit one has been fully updated in 2011 to owner standard. Unit 2 was updated to owner standard in 2005, so is slightly dated. Two great units. New roof in 2008, new basement slab in 2010. Very well maintained building. It's a money maker. Great neighborhood, easy walk to the El. Very easy to rent.

Last Agent to Sell the Property

Adam Meredith

X Plus Real Estate License #475137237 Listed on: 02/13/2014

Last Buyer's Agent

Mario Greco

Compass License #475105845

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,732

Year Built

  • Built in 1910

Parking

  • 2 Car Detached Garage
  • Garage Door Opener
  • Parking Included in Price

Home Design

  • Asphalt Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 4 Bathrooms
  • No Tub in Bathroom
  • Separate Shower

Finished Basement

  • Basement Fills Entire Space Under The House
  • Sump Pump

Home Security

  • Intercom
  • Storm Screens
  • Carbon Monoxide Detectors

Outdoor Features

  • Deck
  • Patio

Schools

  • Agassiz Elementary School
  • Lincoln Park High Middle School
  • Lincoln Park High School

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Additional Features

  • Ceiling Fan
  • Lot Dimensions are 25 x 125

Listing and Financial Details

  • Homeowner Tax Exemptions

Community Details

Overview

  • 2 Units

Building Details

  • Gross Income $66,000
  • Net Operating Income $55,268

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,732

Year Built

Built in 1910

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1910
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Commuter Bus,Commuter Train
  • Rehab (Y/N): Yes
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 4
  • Total Bedrooms: 7
  • Other Equipment: Intercom, CO Detectors, Ceiling Fan(s), Sump Pump
  • Basement Description: Finished
  • Bathroom Amenities: Separate Shower,No Tub
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 4
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Disposal,Central Air Conditioner,Laundry Hook-Up,Hardwood Floors,Skylights/Windows,Walk-In Closet
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Disposal,Central Air Conditioner,Laundry Hook-Up,Hardwood Floors

Exterior Features

  • ExteriorFeatures: Deck, Patio, Storms/Screens
  • Foundation Details: Concrete Perimeter
  • List Price: 800000
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Garage Spaces: 2
  • ParkingTotal: 2
  • Garage Details: Garage Door Opener(s)
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan

Fee Information

  • Other Expenses $: 10731

Schools

  • Elementary School: AGASSIZ ELEMENTARY SCHOOL
  • High School: LINCOLN PARK HIGH SCHOOL
  • Middle/Junior School: LINCOLN PARK HIGH SCHOOL
  • Middle/Junior School District: 299
  • Junior High/Middle School #2: LAKE VIEW HIGH SCHOOL

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 25 X 125
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: Yes

Multi Family

  • Net Operating Income: 55268
  • GrossIncome: 66000
  • Units in Building: 2
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 8731.5
  • Tax Year: 2012
  • Tax Exemptions: Homeowner

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 Change Sq Ft Price
06/03/2014 06/03/14 Sold $795,000 -0.6% --
02/21/2014 02/21/14 Pending -- -- --
02/13/2014 02/13/14 For Sale $800,000 -- --
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: 08536032

Midwest Real Estate Data (MRED)