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$895,000
Est. payment /mo
7,200 SqFt
UPDATED:
12/08/2024 06:07 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 7,200 sqft
Price per Sqft $124
MLS Listing ID 12217239
Maintenance Fees $4,800
Year Built 1922
Annual Tax Amount $25,102
Tax Year 2023
Lot Size 6,534 Sqft
Lot Dimensions 6,377 SF
Property Description
A six-unit, vintage building located in Oak Park, Illinois. Noted for its quality housing stock and schools, Oak Park is a model community which provides a wide range of community services to residents within close proximity to the city of Chicago. Oak Park is approximately 10 miles from Chicago's downtown Loop and is one of the most sought-after suburbs for homeowners and renters. Oak Park's unique mix of diversity, community, world-famous architecture, upscale neighborhoods and commerce make it an ideal location to own rental property. 1232-34 North Austin Boulevard features six spacious two-bedroom / one-bathroom layouts (approximately 1,200 square feet) with separate dining rooms, enclosed rear porches and in-unit laundry. Each unit has been gutted and features newer electric, plumbing, porcelain tile flooring, stainless steel appliances, newer maple cabinets, countertops and lighting. The kitchens were reconfigured to include stackable washers and dryers in each unit and the bathrooms all feature newer vanities, medicine cabinets, light fixtures, plumbing fixtures and linen closets for additional storage. On-site the property contains eight parking spaces (two tandem) which rent for additional income, as well as on-site storage in the basement for each unit. A new owner could potentially duplex a first floor unit down to the basement level. Improvements to the building include roofs and parapet wall repairs, tuckpointing, new paving and striping of the parking lot, newer electrical service, panels and circuit breaking, newer plumbing, installation of security cameras and repairs to the boiler including installation of Honeywell Vision Pro remote sensor temperature controls. This investment is an opportunity for a new investor to acquire a renovated multifamily property in a strong and desirable Oak Park rental market. Through continued strong management a new investor has the potential to achieve consistent cash flow and returns.
Location
State IL
County Cook
Area Oak Park
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 4
Structure Type Brick
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Brigette Bell • B2B Investment Properties LLC
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