Description
Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential 3rd unit coach house development or can be rented to tenants now for indoor parking income. Separately metered gas & electric. Coin-operated commercial washer & dryer in basement shared by both units provides extra income. Second floor tenants maintain lawn and bushes and are responsible for snow removal in exchange for $60/month reduction in rent which is reflected in adjusted Unit 2 current lease amount of $1,640/month. Both apartments are currently leased - start out with strong cash flow right away. Photos are from when both units were vacant prior to tenant occupancy.
Details
| MLS # | 12704270 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Days On Site | 46 |
| Listing Provided By | HomeSmart Connect | Kevin Williams |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 2 |
| Garage | 2 |
| Basement | Y |
| Acreage | 0.20 |
Interior
| Rooms Total | 10 |
|---|---|
| Heating | Natural Gas, Forced Air |
Exterior
| Roof | Asphalt |
|---|---|
| Foundation Details | Concrete Perimeter |
| Construction Materials | Other |
Parking
| Parking Features | Yes, Garage Owned, Detached, Driveway, Owned, Garage |
|---|---|
| Garage Spaces | 2 |
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 7406 |
Area Information
| State | IL |
|---|---|
| County | Kane |
| City | Elgin |
| Zip Code | 60120 |
| Area | Elgin |
| Listing VS Median (in 60120) | |
Price: $420,000 low | high Med: $300,000 On site: 46 low | high Med: 326 | |
Market Activity 60120
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Learn More About This Property
| State | IL |
|---|---|
| County | Kane |
| City | Elgin |
| Zip Code | 60120 |
| Area | Elgin |
| Listing VS Median (in 60120) | |
Price: $420,000 low | high Med: $300,000 On site: 46 low | high Med: 326 | |
