2631 N 74Th Avenue, Elmwood Park, Illinois 60707
- $799,000
- 6
- BD
- 5
- BA
- List Price
- $799,000
- MLS#
- 12767898
- Status
- NEW
- Type
- Multifamily
- Subtype
- Residential Income
- Bedrooms
- 6
- Bathrooms
- 5
- County
- Cook
- City
- Elmwood Park
- Neighborhood
- Elmwood Park
- Days On Market
- 1
Property Description
Mid-Century Modern four-unit property in a highly desirable Elmwood Park location! Offering more than 5,000 square feet of living space, this fully leased building with 100K in RECENT IMPROVEMENTS presents an outstanding sole investment or owner-live-in opportunity! The current rent roll includes Unit 1 at $1,995 per month, Unit 2F at $1,350, Unit 2R at $1,250, Unit G at $1,250, and the garage at $175. GMR totals $6,020 per month, or $72,240 annually. The property includes six bedrooms and five full bathrooms across four apartments. Each residence has its own thermostat and individually controlled AC unit. Tenants share a basement common area and laundry room with a free, owner-owned washer and dryer. The detached garage accommodates approximately 2.5 cars and is leased separately. The building combines vintage character with thoughtful updates, including striking tiger mahogany cabinetry and stainless-steel appliances. Approximately $100,000 in improvements have been completed since October 2024, with major investments in the property's systems. Updates include a brand-new Weil-McLain gas boiler, a new common water heater with annual service, a full electrical upgrade, sewer-main hydro jetting, camera inspection and repairs, new copper piping in the mechanical room, a new hot-water supply line to the garden unit, and a sprinkler system in the basement common area. Additional improvements include repainting, carpet cleaning, rent-ready repairs, new locks, deep cleaning, and new laminate flooring in Unit 1. Earlier improvements include tuckpointing, glass-block windows, and plumbing work. The building is also a prime value add candidate with large basement common room that can easily become a unit addition. As well as the opportunity for cosmetic upgrades to increase an impressive rent toll. Conveniently located within walking distance of the train, parks, and schools, this well-maintained income-producing property offers a compelling combination of location, vintage character, modernized building systems, and future rental upside.
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Additional Information
- School District
- 401
- Elementary School
- John Mills Elementary School
- Middle School
- Elm Middle School
- High School
- Elmwood Park High School
- Corporate Limits
- Elmwood Park
- Tax Year
- 2022
- Year Built
- 1962
- Lot Dimensions
- 33X124
- Lot Size Range
- Less Than .25 Acre
- Units
- 4
- Garage Spaces
- 2.5
- Parking Spaces
- 2.5
- Parking Details
- Yes, Garage Owned, Detached, Garage
- Heating
- Natural Gas, Steam
- Sewer
- Public Sewer, Storm Sewer
- Basement
- Yes
Mortgage Calculator
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