1912 North 18th Avenue

Melrose Park, IL 60160

$574,000
Price
5
Beds
4
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

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...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.
  1. Listed by Sarit Levine • Altogether Realty Corporation

Property Details for 1912 North 18th Avenue

Area
Melrose Park
Township
Leyden
Ownership
Fee Simple
Num Of Parking Spaces
6.0
Parking Included in Price
Yes
Heat/Fuel
Natural Gas

Location

Listing Courtesy of Altogether Realty Corporation
Add your commute
LISTING UPDATED: 05/02/2024 12:07 AM

Property Details for 1912 North 18th Avenue

StatusActive
MLS #12017190
Days on Market31
Taxes$7,778 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 4 Flat
Year Built1960
Lot Size0.12 AC / 5,262 SF
CountyCook County

Location

Listing Courtesy of Altogether Realty Corporation
Add your commute

Building Information for 1912 North 18th Avenue

Stories-Residences4Year Built1960Building Size-Lot Size0.12 AC / 5,262 SF

Payment Calculator

$3,781 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,133

Property Taxes

$648

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1912 North 18th Avenue

General Information
School Information
  • Elementary School District: 84.5
  • Elementary School: Rhodes Elementary School
  • Jr High Middle School: Rhodes Elementary School
  • High School District: 212
  • Middle Or Junior School District: 84.5
Addtl Parking Information
  • Parking: Space/s
  • Parking Details: Assigned Spaces
  • Parking On Site: true
  • Parking Ownership: Owned
  • Open Parking Spaces: 6.0
Property Information
Interior Features
  • Num Of Rooms: 14
  • Bedrooms (Below Grade): 0
  • Basement Type: None
  • Bedrooms Possible: 5
  • Basement Description: None
  • Basement Bathrooms: No
  • # Full Baths in Building: 4
  • # Half Baths in Building: 0
  • Num of Baths: 4.0
Utilities / Equipment
  • Water: Lake Michigan
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: No
  • Built Before 1978: Yes
  • Age: 61-70 Years
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 5262 SQF
  • Total # Units in Building: 4.0
  • Other Structures: Shed(s)
  • Waterfront: No
  • Exterior Building Type: Brick
  • Roof Type: Asphalt
  • Foundation Details: Concrete Perimeter
  • General Information: Commuter Bus
  • Lot Size Source: Survey
  • 3 Br Un In Bldg: No
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 20
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Electric Expense: $700.00
  • Gross Income: $32,000.00
  • Other Addl Income: Coin Laundry
  • Water Sewer Expense: $1,200.00
Unit 1
  • Unit Type Actual Rent: $800.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Lease Expiration Date: MO
Unit 2
  • Unit Type Actual Rent: $1,400.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: MO
Unit 3
  • Unit Type Actual Rent: $1,050.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Lease Expiration Date: MO
Unit 4
  • Unit Type Actual Rent: $1,000.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
  • Lease Expiration Date: MO

Property History for 1912 North 18th Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1912 North 18th Avenue

Taxable ValueLand$3,458Additions$17,120Total$20,578
Tax Record2021$7,778 ($648 / month)
Home Facts
Baths4Total Finished SqFt3,231 SqFtAbove Grade Finished SqFt3,231 SqFtStories1Lot Size5,320 SqFtStyleMulti-Family Res (5+ Units)Year Built1960CountyCOOKAPN12-34-306-067

Schools near 1912 North 18th Avenue

This home is within Rhodes School District 84-5.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Private - K to 12
Private - PK to 8
Rating
School
Distance
Rhodes Elementary School
PublicPK to 8

West Leyden High School
Public9 to 12

Word of God Christian Academy
PrivateK to 12

Sacred Heart Catholic School
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1912 North 18th Avenue is a multi-family home for sale in Melrose Park, IL 60160. This property was listed for sale on April 2, 2024 by Altogether Realty Corporation, it's currently listed at $574,000. This listing's school districts are Rhodes School District 84-5, Leyden Chsd 212 School District. Nearby schools include Rhodes Elementary School, West Leyden High School and Word of God Christian Academy. 1912 North 18th Avenue is a 5-bed, 4-bath, multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Altogether Realty Corporation

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 05/02/2024 12:07 AM. 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.