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Listing 7 out of 22
$775,000 Contingent
11 units | Multi Family Home
15682 sq ft lot - MLS# 10340935
Property Photo
1/3

Description

Great 11-unit apartment building. Close to transportation and easy access to Route 20 and Interstate 90. Public trans is readily available at the Elgin terminal, located about 1.5 miles, and is locally served by PACE. Bus stops are conveniently located on Larkin Avenue which is footsteps away from the property. The unit mix is comprised of two studios, six one-bedroom / one-bathroom units, and three two-bedroom / one-bathroom units measuring at approximately 500, 650, and 700 square feet, respectively. The property features ample off-street parking and four additional garage/covered-space units. The property is surrounded by local parks, public schools, restaurants, retail stores, banks, grocery markets, etc. Directly east is downtown Elgin. The property offers an investor the opportunity to obtain a well-maintained asset in a favorable Elgin location.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family 5+
  • Listing Status: Contingent
  • County/Area: Kane County
  • Zip Code: 60123
  • Year Built: 1955
  • Units: 11 units
  • # of Parking Spaces: 11
  • Lot Size: 15682 sq ft lot
  • Zoning: MULTI
  • # Of Bdrms - Unit 2: 1
  • # Of Bdrms - Unit 3: 2
  • # Of Full Bthrms - Type 1: 1
  • # Of Full Bthrms - Type 2: 1
  • # Of Full Bthrms - Type 3: 1
  • # Of Rooms - Unit 1: 1 Rooms
  • # Of Rooms - Unit 2: 2 Rooms
  • # Of Rooms - Unit 3: 3 Rooms
  • # Of Stories: 2
  • # Of Units - Apt. Type 1: 2
  • # Of Units - Apt. Type 2: 6
  • # Of Units - Apt. Type 3: 3
  • Approximate Age: Older
  • Built Before 1978 (Y/N): Yes
  • Electricity Expense: $422
  • Fuel Expense: $1,964
  • Gross Rent Multiplier: 7.48
  • Heat/Ventilation: Forced Air, Hot Water
  • Indoor Parking: 1-5 Spaces
  • Insurance Expense: $3,310
  • Janitor Expense: $3,300
  • Lot Dimensions: .36
  • Lot Sq Ft: 15533
  • Monthly Income - 1: $650
  • Monthly Income - 2: $729
  • Monthly Income - 3: $900
  • Monthly Income Max - 1: $695
  • Monthly Income Max - 2: $775
  • Monthly Income Max - 3: $950
  • Other Expenses: $213
  • Outdoor Parking: 6-12 Spaces
  • Repairs-Decor Expense: $16,100
  • Tax Year: 2017
  • Taxes: $18,394
  • Tenant Pays: Electric, Other
  • Total Annual Exp: 51551
  • Total Annual Income: $103,596
  • Total Monthly Income: $8,633
  • Township: Elgin
  • Water Expense: $7,320
Courtesy of Remax Horizon

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The Hilda Jones Team

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