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$559,000
Est. payment /mo
7 Beds
5 Baths
OPEN HOUSE
Sun Jul 27, 1:00pm - 3:00pm
UPDATED:
Key Details
Property Type Multi 2-4 Units
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12429437
Bedrooms 7
Year Built 1970
Annual Tax Amount $13,450
Tax Year 2023
Lot Dimensions 5552
Property Sub-Type Two to Four Units
Property Description
Welcome to a lucrative investment opportunity nestled in the heart of Melrose Park, where prime real estate meets exceptional potential. A well-maintained 4-unit brick building comprised of 3 beautifully renovated 2-bedroom apartments and one 1-bedroom apartment. Onsite is A large laundry room with coin operated washer and dryer and additional storage for each apartment. Other features of this impressive property include a sump pump, newer roof and gutters (2017), new appliances (2025), new light fixtures (2025), new flooring (2025), new fire-resistant doors, newer water heater, 5 parking spots, as well as a Shed and a picnic area on the premises for the tenants to enjoy. 2 out of the 4 units are currently occupied, while the other 2 are vacant and newly remodeled and offer great potential to either rent at market value or to occupy one of the specious units. This property offers investors a rare opportunity for substantial returns on their investment in today's flourishing market. With all units rented at the market rate the capitalization rate is at an astonishing 10 percent. This investment gem sits within close proximity to shopping centers, central highways, schools, public 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. Whether you're looking to be a homeowner getting additional income, 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.
Location
State IL
County Cook
Area Melrose Park
Rooms
Basement None
Interior
Heating Natural Gas
Fireplace N
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
Elementary Schools Rhodes Elementary School
Middle Schools Rhodes Elementary School
School District 84.5 , 84.5, 212
Others
Ownership Fee Simple
Special Listing Condition None
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Sarit Levine • Altogether Realty Corporation