- List Price $665,000
- Price / Unit $221,666
- Property Type Two – Four Unit
- Units 3
- Current Rents $49,620
- Pro Forma Rents $60,000
- In Place NOI $23,939
- Projected NOI $29,542
- Target CAP Rate 3.6%
- Market CAP Rate N/A
- Today's Market Value $665,000
- Value w/Market Rents $665,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 7
- 3
- 3472
- 1971
- 100%
- 3
- 2
- Boiler Heat
- Window Units
- Common, Paid
7
3
3472
- 1971
- 100%
- 7
- 2
- Boiler Heat
- Boiler Heat
- Common, Paid
About the property
Discover a fantastic investment opportunity with this fully rented 3-flat building at 1933 N 18th Ave, Melrose Park, IL! This well-maintained property offers steady rental income with all units currently occupied, making it a turnkey opportunity for investors. Featuring spacious layouts, great tenants, and a desirable location close to shopping, dining, and transportation, this building is perfect for those looking to expand their portfolio with a hassle-free, income-generating property. Don’t miss out on this prime multifamily investment!
About the neighbourhood
- Melrose Park, Illinois, is a vibrant suburban community located about 14 miles west of downtown Chicago. Known for its rich Italian-American heritage, the village boasts a diverse population and a strong sense of community. It features a mix of residential, commercial, and industrial areas, with notable landmarks like Gottlieb Memorial Hospital and the Melrose Park Metra station providing convenient transportation. The village is home to several parks, local businesses, and popular annual events, including the Taste of Melrose Park, which celebrates its culinary traditions. With its close proximity to Chicago and a welcoming atmosphere, Melrose Park offers a blend of suburban charm and urban accessibility.
Municipality - Investor Guide
Melrose Park
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N | Cost: No | Required: Yes | Required: Yes |
| Seller: Y | Cost: Yes | Cost: Varies | Cost: Varies |
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
View current and future return metrics based on customizable inputs. "Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
Property Current
This column shows the current financial state of the subject property. Some of these inputs may be estimations.
Year 2 Pro Forma
This column is based off of market rents and assumes proper property performance.
Debt Service
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Mortgage Calculator
- Down Payment
- Loan Amount
- Monthly Mortgage Payment
- Monthly Property Tax
- Monthly Property Insurance
- Monthly HOA Fees
Utility Table
Total Yearly Utitlity Cost: $3,330.00
*This Utility Table does not include snow removal or lawn care costs, if any. For more details on snow/lawn expenses, see the "Expenses" attachment located under the "Property Documents" section.
Property Taxes
Currently No Tax data found for this property. Please Check back later.
Walkscore
Nearby
- Arts & Entertainment
-
Spirit Halloween (0.11 mi)
-
American Mattress (0.19 mi)
-
Walgreens (0.2 mi)
- Education
-
Schools Public (0.45 mi)
-
Piano Galaxy Music Studio (0.51 mi)
-
Reading Is Fundamental In Chicago (0.72 mi)
- Food
-
Tom's Steak House (0.14 mi)
-
Subway (0.14 mi)
-
Foremost Liquor Store (0.18 mi)
- Health & Medical
-
Rons Auto Sales (0.09 mi)
-
Bobbe Steven A DDS PC (0.18 mi)
-
1 Nails (0.19 mi)
Contact Information
- List Price $665,000
- Property Type Two – Four Unit
- Current Rents $49,620
- In Place NOI $23,939
- Target CAP Rate 3.6%
- Today's Market Value $665,000
- Price / Unit $221,666
- Units 3
- Pro Forma Rents $60,000
- Projected NOI $29,542
- Market CAP Rate N/A
- Value w/Market Rents $665,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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