$ 799,000
-
$799,000
Price -
6
Bed -
5
Bath
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About the Listing 87120 - 158057
Ask about our 5K GRANT! Mid-Century Modern four-unit property in a highly desirable Elmwood Park location! Offering more than 5,000 square feet of living space, this fully leased building with 100K in RECENT IMPROVEMENTS presents an outstanding sole investment or owner-live-in opportunity! The current rent roll includes Unit 1 at $1,995 per month, Unit 2F at $1,350, Unit 2R at $1,250, Unit G at $1,250, and the garage at $175. GMR totals $6,020 per month, or $72,240 annually. The property includes six bedrooms and five full bathrooms across four apartments. Each residence has its own thermostat and individually controlled AC unit. Tenants share a basement common area and laundry room with a free, owner-owned washer and dryer. The detached garage accommodates approximately 2.5 cars and is leased separately. The building combines vintage character with thoughtful updates, including striking tiger mahogany cabinetry and stainless-steel appliances. Approximately $100,000 in improvements have been completed since October 2024, with major investments in the property's systems. Updates include a brand-new Weil-McLain gas boiler, a new common water heater with annual service, a full electrical upgrade, sewer-main hydro jetting, camera inspection and repairs, new copper piping in the mechanical room, a new hot-water supply line to the garden unit, and a sprinkler system in the basement common area. Additional improvements include repainting, carpet cleaning, rent-ready repairs, new locks, deep cleaning, and new laminate flooring in Unit 1. Earlier improvements include tuckpointing, glass-block windows, and plumbing work. The building is also a prime value add candidate with large basement common room that can easily become a unit addition. As well as the opportunity for cosmetic upgrades to increase an impressive rent toll. Conveniently located within walking distance of the train, parks, and schools, this well-maintained income-producing property offers a compelling combination of location, vintage character, modernized building systems, and future rental upside.
Listing Highlights for 2631 N 74th Ave
Interior Details
- Bedrooms: 6
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas,Steam
- Fireplaces:
- Floor:
- Basement: Rec/Family Area,Daylight
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 33X124
- Zoning: MULTI
- Roof:
- Others:
- Sewer: Public Sewer,Storm Sewer
- Parking Features: Yes,Garage Owned,Detached,Garage
Financial Details
- Tax Amount: $13,244
- Taxes w/Assessments: N/A
- Tax/Property ID: 12254120440000
- Tax Year: 2022
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
2631 N 74th Ave Elmwood Park, IL 60707
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