Cook, US
This spacious 4-bedroom, 2-bath unit is located in a Northwestern University "student apartment" building, just a 13-minute walk from campus. Nestled on a peaceful and quiet street, it's highly popular with a range of tenants, including Northwestern students, faculty, staff, and other young professionals. The property is only 0.5 miles (a 10-minute walk) from the Purple Line's Noyes Station, with convenient access to local amenities including convenience stores, restaurants, and banks. A park is just a 3-minute walk away. Recently renovated in 2023, the unit is currently fully leased to Northwestern students, all of whom are on their second-year leases until 08/31/25. The annual rental income is 38,400 (parking not included). After deducting property taxes, insurance, and the HOA, the unit achieves a 7.5+ cap rate. With a 10-year equity multiple of 3.3X, an annual return rate of 22.97/100, and a projected cash-on-cash return of over 10/100 by year three, this is an ideal investment. The current owner has held the property for nearly 20 years, benefiting from stable and lucrative returns.
Courtesy Of: YOUMU VENTURES LLC
Feature Highlights
- Built Before 1978
General Features
- List Date:
- 11/06/2024
Public Schools
- Elementary School:
- Orrington Elementary
- High School:
- Evanston Twp High Sc
Interior Features
- Living Area Source:
- Not Reported
- Bedrooms Possible:
- 4
- Bathrooms Full:
- 2
- Rooms Total:
- 4
Exterior Features and Amenities
- Lot Size Dimensions:
- CONDO
- Parking Total:
- 1
Financial
- Association Fee:
- $485.00
- Purchase Contract Date:
- 2024-11-19
- Days On Market:
- 16
- Tax Annual Amount:
- $5,172.36
- Tax Year:
- 2023
Other Features
- Elementary School District:
- 65
- High School District:
- 202
- Middle Or Junior School District:
- 65
- Age:
- 61-70 Years
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of MRED LLC. Real Estate listings held by brokerage firms other than Hometown Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data last updated: 2024-12-21.
Copyright 2024 MRED LLC
All rights reserved.