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Key Details
Sold Price $590,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12053717
Sold Date 07/11/24
Bedrooms 8
Year Built 1985
Annual Tax Amount $11,123
Tax Year 2022
Lot Size 25.250 Acres
Lot Dimensions 11000
Property Description
LARGE 4 UNIT BUILDING IN A GREAT FAR NORTH SIDE ZION LOCATION BY LORELIE AND 9TH ST. FOUR IDENTICAL 2 STORY UNITS, 2 BEDROOMS EACH, 1/2 BATHROOM ON MAIN LEVEL AND A FULL HALL BATHROOM UPSTAIRS. EACH UNIT HAS ITS OWN PRIVATE CONCRETE PATIO WITH 2 SLIDING GLASS DOORS AND LARGE BACKYARD. EACH UNIT HAS ITS OWN PRIVATE IN-UNIT LAUNDRY ROOM ON THE MAIN LEVEL. MASTER BEDROOMS HAVE WALK-IN CLOSETS AND A SINK WITH A MIRROR AREA. BRAND-NEW (MARCH 2024) ROOF AND SECOND FLOOR VINYL SIDING. UPPER-LEVEL SLIDING GLASS DOOR RAILS REPLACED (2024). WINDOWS AND PATIO DOORS REPLACED (2009). CONCRETE PARKING LOT WITH 8 PARKING SPACES. ONE UNIT HAS A BRAND-NEW KITCHEN, WHITE SHAKER CABINETS, GRANITE COUNTERTOPS, SINK, FAUCET, STAINLESS STEEL APPLIANCES WITH A HIGH-END STOVE AND BUILT IN MICROWAVE. NEW BATHROOM VANITIES, NEW VINYL FLOORING ON MAIN LEVEL, NEW PAINT. ALL THE KITCHENS HAVE ISLANDS. OTHER UNITS ARE IN GOOD CONDITION. TENANTS PAY FOR ALL UTILITIES, SEPARATE WATER METERS AND ELECTRIC METERS, WATER HEATERS, TENANTS ALSO PAY FOR GARBAGE PICK-UP. BEACH PARK SCHOOLS! CLOSE TO THE BIG SUPER WAL MART ON 173, I-94, GURNEE MILLS MALL, SIX-FLAGS GREAT AMERICA, KENOSHA PREMIUM OUTLET MALL, ETC. HIGH INCOME AND LOW EXPENSES MAKES THIS A GREAT CASH COW INVESTMENT. POTENTIAL GROSS INCOME IS $66,000 A YEAR, LANDLORD ONLY PAYS FOR TAXES $11,123, LANDSCAPING $1,200 PER YEAR AND INSURANCE $2,200 PER YEAR, APPROX EXPENSES AT $15,000 A YEAR, NET INCOME PROFIT OF $51,000 MAKES THIS 7.8 % RETURN ON YOUR INVESTMENT.
Location
State IL
County Lake
Community Curbs, Sidewalks, Street Lights, Street Paved
Rooms
Basement None
Interior
Heating Electric, Baseboard
Fireplace N
Exterior
Exterior Feature Patio, Storms/Screens
Waterfront false
View Y/N true
Roof Type Asphalt
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction false
Schools
School District 3, 3, 126
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Amy Kite • Keller Williams Infinity