Skip To Content

    6 S Monterey Avenue

    Villa Park, IL 60181
    • $399,999
    • STATUS: Active Under Contract
    • ON SITE: 105 days
    • MLS #: 11114791
    Under Contract
    UPDATED: 119 min ago
    $399,999
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,030
      SQFT
    • $99
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1923
    County:
    Area:

    School Ratings & Info

    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.

    Monthly Payment Calculator



    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Wexler Group | Keller Williams Preferred Realty. Based on information submitted to the MRED as of 2021-09-21T00:00:16.07 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
    www.thewexlergroup.com/homes/118001116
    Print Image

    6 S Monterey Avenue Villa Park, IL 60181

    • Price: $399,999
    • Status: Active Under Contract
    • Updated: 119 min ago
    • MLS #: 11114791
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    4,030
    SQFT
    $99
    $/SQFT
    1923
    Built
    Neighborhood:
    Villa Park
    County:
    DuPage
    Area:
    Villa Park
    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.
    Exterior Features

    Foundation Details Concrete Perimeter Frontage Type City Street Land Amenities Curbs And GuttersLighting/ExteriorSidewalksCable Ready Outdoor Parking 6-12 Spaces Parking Total 10 Roof Composition Roof Structure Gable

    Interior Features

    Basement Partially Finished Cooling Window Unit(S) Heat Ventilation GasRadiators Number Of Dryers 1 Number Of Ranges 5 Number Of Washers 1

    Property Features

    Additional Parcels YN No Approximate Age Older Association Fee Includes Exterior MaintenanceSnow Removal Building Area Total 4030 Built Before1978 YN Yes Contingency Attorney/Inspection Continue To Show No - Has Seller Written Direction Current Use Multi-Family Gross Income 56280 Gross Scheduled Income 56280 Insurance Expense 3165 Maintenance Expense 800 Net Operating Income 26528 Operating Expense 27123 Possible Use Multi-Family Tax Annual Amount 8061.4 Tax Year 2020 Tenant Pays None Total Monthly Income 4690 Township Addison Type Multi Family 5+ Zoning Multi

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Dobreva Commercial Inc.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Wexler Group | Keller Williams Preferred Realty. Based on information submitted to the MRED as of 2021-09-21T00:00:16.07 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
    https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_11114791-1.jpg https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_11114791-1.jpg https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_11114791-1.jpg
    Logo
    The Wexler Group | Keller Williams Preferred Realty
    16123 S LaGrange Road
    Orland Park IL, 60467