- List Price $470,000
- Price / Unit $235,000
- Property Type Two – Four Unit
- Units 2
- Current Rents $30,000
- Pro Forma Rents $48,000
- In Place NOI $11,936
- Projected NOI $28,676
- Target CAP Rate 6.1%
- Market CAP Rate 6%
- Today's Market Value $500,000
- Value w/Market Rents $550,000
*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.
- 6
- 2
- 2348
- 1962
- 100%
- 4
- 2
- Forced Air
- Central Air
- In Unit, Free
6
2
2348
- 1962
- 100%
- 6
- 2
- Forced Air
- Forced Air
- In Unit, Free
About the property
Welcome to 404 N Gerard! A rare opportunity to own an Income-Generating 2-unit property in the heart of Villa Park!. Each unit offers a clean & spacious 3-bedroom, 1-bathroom layout with a finished 1/2 basement encompassing over 1,100 of living space in each unit! Each unit boasts separate driveways, separate yards & separate GAS & Electric meters, allowing tenants to cover their own utilities (Landlord pays water). Both units are equipped with independent HVAC systems for heating added convenience and efficiency. 1 unit has Central Cooling while the other runs on window unit AC for cooling. The building has Vinyl windows, architectural shingles, contributing to the property’s overall low-maintenance appeal. Located just minutes from the Metra station, restaurants & schools, with strong rental potential & thoughtful improvements already in place, this versatile property is perfect for investors looking to expand their portfolio or owner-occupants seeking the option to live in one unit while renting out the other.
About the neighbourhood
- Villa Park is a welcoming suburban community known for its small-town charm and convenient location, Villa Park offers a balanced lifestyle that blends quiet residential neighborhoods with easy access to urban amenities. Villa Park features tree-lined streets, local parks, and a strong sense of community. Residents enjoy outdoor spaces like Lufkin Park and Sugar Creek Golf Course, which provide opportunities for recreation, relaxation, and family-friendly activities. Villa Park’s location near major highways and access to the Metra Union Pacific West Line make commuting to downtown Chicago and surrounding areas convenient. Its local business districts offer a variety of dining, shopping, and services, contributing to a close-knit, vibrant community atmosphere.With its affordability, accessibility, and friendly environment, Villa Park is an appealing place for families, young professionals, and retirees seeking suburban living with proximity to a major city.
Municipality - Investor Guide
Property Documents
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Walkscore
Nearby
- Arts & Entertainment
-
Elite Touch Painting & Decorating (0.31 mi)
-
Saint Genesius Productions (0.34 mi)
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Shoe Carnival (0.41 mi)
- Education
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Village of Villa Park Recreation Department (0.71 mi)
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Beyond Center Stage (0.52 mi)
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Huntington Learning Center Elmhurst (0.55 mi)
- Food
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Marrakesh Express Cafe (0.37 mi)
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Ardmore Station Liquors (0.35 mi)
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Schamberger Brothers (0.4 mi)
- Health & Medical
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Bessette Chiropractic PC (0.49 mi)
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Latin Touch Spa (0.51 mi)
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Sparkling Dental Care (0.52 mi)
Contact Information
- List Price $470,000
- Property Type Two – Four Unit
- Current Rents $30,000
- In Place NOI $11,936
- Target CAP Rate 6.1%
- Today's Market Value $500,000
- Price / Unit $235,000
- Units 2
- Pro Forma Rents $48,000
- Projected NOI $28,676
- Market CAP Rate 6%
- Value w/Market Rents $550,000
*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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