Address
6 S Monterey Avenue Villa Park, IL
Price
$ 399,999
Property Attributes
  • MLS#11114791
  • TypeMulti-Family
  • CountyDU PAGE
  • CityVilla Park
  • AreaVilla Park
  • NeighborhoodArdmore
  • Zip60181
  • StyleMulti-Family
  • Year Built1923
  • Taxes$ 8061
  • Price$ 399,999
  • Bedrooms4
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4030
Listing Provided Courtesy Of:
Dobreva Commercial Inc
Data Source:
Midwest Real Estate Data (MRED) - 103 - IL
Property Description

Value-add opportunity for an investor/rehabber in Villa Park, IL. 5-unit multifamily property with a solid brick structure and concrete floors in need of updates/repairs, situated on a large 12,289 SF lot for growth potential. The property is approx. 4,030 SF, 100% occupied and consists of one 3 bed/ 1 bath and four 1 bed/1 bath apartments. Excellent zoning, MX-3, for creative use of the land, and ideal for multifamily, commercial, or mixed-use. Currently, there is a large fenced-in yard and ample parking spaces for all tenants. The property offers a Gross Revenue of $56,280, a Net Operating Income of $26,528, long terms tenants, and an upside in rents. Recent improvements include a new drain tile, sump pump, sewer line, and a tear-off roof. The garden units have been updated. The building is heated by a well-functioning older boiler system with radiators. There is a newer 50-gallon hot water heater. All window A/C units are owned by the tenants. The washer and dryer are sold with the building and provide additional income. The owner is responsible for gas, electric, water, sewer, trash, property taxes, and insurance. This offering represents a unique opportunity for an investor to acquire a value-add multifamily property with strong cash flow, upside in rents, long tenants, and a good rate of return. A new investor can also take advantage of the current low-interest rates, excellent location for future appreciation, strong rental market, and low vacancy rates in the area. THE PROPERTY IS SOLD IN "AS-IS" CONDITION. The building is located in close proximity to parks, schools, and shopping.

Price History
6/8/2021 Listed $409,000
7/2/2021 3% - $399,999

General Features

Association Fee Includes Exterior Maintenance, Snow Removal
Construction Materials Brick
Cooling Window Unit(s)
Current Use Multi-Family
Fuel Expense 1826
Possible Use Multi-Family
Property Type Commercial Sale
Property Type Multi Family 5+
Roof Composition
Standard Status Active
Stories 2
Tax Annual Amount 8061.4
Total Units 5
Township Addison
Water Sewer Expense 3553
Zoning MULTI

Interior Features

Basement Partially Finished

Exterior Features

Building Area Total 4030
Foundation Details Concrete Perimeter
Frontage Type City Street
Lot Dimensions 71.76*176.50
Lot Size Square Feet 12289
Total Parking 10

Room Details

Room Dimensions Level Flooring Details
Dining Room
Family Room
Living Room
Master Bedroom

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60181

Price
AVG $430K
$400K
Taxes
AVG $6,146
$8,061
Visits
AVG 22
21
Year Built
AVG 1945
1923
Walkscore
AVG 52
76
Data Provided by Walkscore ® not using MLS data