$630,000
$700,000
10.0%For more information regarding the value of a property, please contact us for a free consultation.
16601 Jean LN Tinley Park, IL 60477
Key Details
Sold Price $630,000
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12013613
Sold Date 06/20/24
Year Built 1971
Annual Tax Amount $15,900
Tax Year 2021
Lot Dimensions 11,628 SQ FT
Property Description
Investment Opportunity: 7-Unit Building with Income Potential! 6 one-bedroom units and one 2-bedroom unit(currently owner's unit) Welcome to this fantastic investment opportunity in a prime location! This s building offers a range of features and benefits that make it a standout property for savvy investors. Property Overview: Well-maintained roof, 15-20 years of remaining life Each unit is equipped with its own HVAC system, with most units over 15 years old Compressors in most units are over 15 years old, with one exception Two coin-operated laundry machines in the tenant area, separate laundry space for the owner's unit with additional storage Every tenant enjoys the convenience of a dedicated storage cage or closet No electric access in the garage Rich history: This building has been cherished and maintained by the current owner's family, with strong ties to the community Excellent rental income and likely able to get higher rent: All units are currently rented, with most units leased for $700/month, and one unit commanding $800/month Investment Highlights: This property offers a variety of compelling features for investors: Strong Rental Income: With all units currently rented, you can enjoy immediate cash flow and a steady rental income stream. Owner's Unit: The spacious owner's unit offers the possibility for an owner-occupier to live on-site while benefiting from rental income. Prime Location: Located in a highly desirable area, this property is close to amenities, and transportation. Investment Potential: With some minor updates and maintenance, there is potential to increase rental rates and property value. Turnkey Investment: This property is ready to go, with a well-established rental history and loyal tenants. Don't miss this opportunity to add a promising multi-unit property to your real estate portfolio. Whether you're a seasoned investor or just getting started, this building offers immediate income and long-term potential. Contact us today to schedule a viewing and explore the possibilities this property has to offer. Invest in your future with this exceptional opportunity!
Location
State IL
County Cook
Area Tinley Park
Interior
Cooling Central Air
Fireplace N
Building
Level or Stories 2
Read Less
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Bought with Anthony Munoz • Listing Leaders Northwest, Inc
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