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Property Description

Multi-family unit in close proximity to Fox River, shopping, expressways, schools, and parks. This 2-flat has had some of the expensive updates done, but needs more TLC, so doesn't show as well as it could. NEW Roof, NEW gutters, and NEW Furnace boiler in 2021. NEW water heaters for all units in 2022. Low maintenance - Tenants pay all the utilities and handle snow removal, so it is a building that is easy to manage, and has great cash flow. This property needs some additional updates and repairs and is sold in AS-IS condition. If you don't mind taking on a fixer-upper, it's a great opportunity to pick up a steady income-producing property at a good price. The Cap Rate (return based on the net operating income/sale price) is 10.46% which is extremely high. Rent Roll and Expenses available upon request.

Overview

Property Status
Sold
MLS ID
11999459
Property Type
Multi-Family
Year Built
1910

Features & Amenities

Water Source
Public
Heat Type
Natural Gas
Sewer
Public Sewer
School District
129
Sales Price
$275,000
Real Estate Tax
$6,688/yr
Maintenance Fee
$200/mo

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523 Grand Avenue

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