Sold for $890,000 on 3/19/21
| Beds |
Baths |
Built |
Sq.Ft. |
Garage |
Taxes |
On Market |
| 7 |
5 |
1890 |
— |
0 |
$16,557 |
1559 days |
LAKEVIEW 3 UNIT PROPERTY - 2 FLAT IN FRONT AND COACH HOUSE IN BACK. 1 EXTERIOR PARKING SPOT INCLUDED BEHIND COACH HOUSE. BURLEY SCHOOL DISTRICT RENTS ARE VERY LOW - LONG TERM TENANTS & OWNER. GROSS MONTHLY RENTS SHOULD BE $6700+ WITH A 6.5%+ CAP RATE. CURRENT CAP RATE = 5.6% BASED ON DUPLEX RENTING FOR $2800. 1ST FLOOR = 2 BED 1 BATH SIMPLEX UNIT - RENTED FOR $1100. LEASE EXPIRES 8-31-21. 2ND FLOOR - 3 BED 2 BATH DUPLUS UP THAT IS VACANT - LEAVING IT VACANT IN THE EVENT SOMEONE WANTS TO MOVE IN. THIS SHOULD RENT FOR $2800. FREE LAUNDRY IN THE BASEMENT FOR THESE 2 FRONT UNITS. COACH HOUSE IS A STAND ALONE 2 BED 2 BATH UNIT WITH LAUNDRY IN THE UNIT AND 1 PARKING SPACE INCLUDED IN RENT. THIS CURRENTLY RENTS FOR $2200 AND THE LEASE EXPIRES 8-31-21. PERFECT OPPORTUNITY FOR SOMEONE TO LIVE IN ONE OF THE DUPLEX UNITS AND COLLECT RENT TO PAY THE MORTGAGE!! MAJOR IMPROVEMENTS: New roof on both buildings and all new skylights in 2017 New wood back porch/staircase and new electrical service to 2 flat in 2019 Hardscape patios / stone beds 2011 New porch front building 2003 REAL ESTATE TAXES $16,278 INSURANCE $3,584 WATER/SEWER/TRASH $4,108.76 COMMON ELECTRIC $132.59 TENANTS PAY THEIR OWN HEAT AND ELECTRIC.
Listing courtesy of @properties Christie's International Real Estate
1512 W Melrose St. is a multi-unit home built in 1890, and is located in Chicago, IL, in the Lake View neighborhood. It has 7 bedrooms and 5 bathrooms, and has annual property taxes of $16,557. This home goes to Burley Elementary School, Burley Elementary School, and Lake View High School.
Marco Amidei
(888) 32-Marco (847) 630-4886
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