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.
