$1,800,000
$1,495,000
20.4%For more information regarding the value of a property, please contact us for a free consultation.
0.4 Acres Lot
SOLD DATE : 09/12/2023
Key Details
Sold Price $1,800,000
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 11843123
Sold Date 09/12/23
Maintenance Fees $2,901
Year Built 1974
Annual Tax Amount $42,913
Tax Year 2022
Lot Size 0.400 Acres
Lot Dimensions 32 X 142 X 176 X 201
Property Description
Rarely Available 21 Unit Building Near I-90 & Metra Station. Units: 1 studio, 9 one bedroom, 11 two bedroom units. Building offers 40 parking spaces & 4 garage spaces. Improvements since 2016 include Galvanized Steel Railings & Beams, Boiler, Roof, 4 Washers & Dryers, Mailboxes, Bathroom Windows. This is a terrific opportunity to add value by increasing the below market rents up to current market levels. At avera market rents, the pro forma net operating income on this building uields a 6.6 cap rate at this price.
Location
State IL
County Kane
Area Elgin
Zoning MULTI
Interior
Fireplace N
Building
Level or Stories 3
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Jayesh Parekh • ARNI Realty Incorporated
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "