$299,800 $1,609 est/mo Sourced by Back At You

220 Dexter Avenue,Elgin, IL 60120

Elgin IL, 60120

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Description

Now here is a solid investment property located in the heart of Downtown Elgin with a few key points that stand out: Desirable Location: Being in the heart of downtown Elgin makes it an attractive spot for renters due to proximity to amenities, transportation, and possibly employment opportunities. Stable Tenancy: Having long-term renters in 2 of the 3 units who wish to stay is a big plus. It suggests less turnover and potentially lower vacancy rates, both of which are good for steady income. Income Potential: The possibility of renovating the 4th unit in the basement is intriguing and would significantly increase the property's income potential. Recent Improvements: new roof, gutters, chimney rebuild, sewer line, and water heaters, add to the property's value. They reduce the likelihood of major repairs in the near future and can be appealing to both tenants and potential buyers. Upcoming City Infrastructure Improvements: The city's plan to replace lead pipes is beneficial for the property in the long run, ensuring better water quality for tenants and potentially increasing property desirability. Do not pass up a fantastic opportunity to expand your investment portfolio!

Details

MLS#12015645
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive Under Contract
Year1880
Days On Site52
Listing Provided ByFulton Grace Realty | Vickie Soupos

Features

Bed(s)4
Bath(s)4
Garage2
BasementY
ZoningMULTI
Acreage0.14

Market Activity 60120

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Learn More About This Property

StateIL
CountyKane
CityElgin
Zip Code60120
AreaElgin
School DistrictLarkin High School
Elementary SchoolHillcrest Elementary School
Middle SchoolKimball Middle School
High SchoolLarkin High School
Listing VS Median (in 60120)
Price:
$299,800
low | high
Med:
$292,500
52.434956637759% of Average
On Site:
52
low | high
Med:
32.000000
100% of Average
Sourced by Back At You
Listing Updated: May 8, 2024 at 7:18:53 AM PDT