Marybeth Chupka
- Buy
- Sell
https://www.ruhlmortgage.com/ChrisSchneider.html
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.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
Bedrooms: 6
Bathrooms: 2
County: Kane
Listed By:
HomeSmart Connect
847-495-5000
MRED MLS
MLS ID: 12704270
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472 N Spring Street , Elgin, IL 60120.
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563-441-1862
toll free 866-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $420,000 | $420,000 | $420,000 |
| Down Payment | $84,000 | $14,700 | $105,000 |
| Monthly Mortgage Amount | $2,069 | $2,539 | $2,595 |
| Taxes | $585 | $585 | $585 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $185 | $0 |
| Monthly Estimated Total | $2,775 | $3,430 | $3,301 |
Marybeth Chupka
REALTOR®
Office: (563) 441-5015
Cell: (563) 529-2766
Licensed in IA & IL
Bettendorf Office
1228 Middle Road
Bettendorf, IA 52722
(563) 441-5000
Bettendorf, IA 52722
(563) 441-5000
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