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1550 N 1St Avenue, Melrose Park, IL 60160
GREAT CASH FLOW! 12 turn-key apartments with an optimal unit mix: (10) 2-Bed and (2) 1-Bed units in the dynamic and fast-growing Melrose Park community. Buildings include 12 parking spaces, strong income, and low expenses! The owner invested in numerous capital improvements including all new electrical services (2019), roof replacements (2017, 2019), parking lot seal and patch (2019), and HVAC upgrades (2019). 11 of the 12 units were renovated in the last 5 years with two tone paint schemes, new flooring, and significant kitchen and bath updates (including granite counters, cabinets, and appliances). ALL THE HARD WORK IS DONE! PASSIVE INVESTMENTS! Note, there are two addresses (1550 and 1560 N. 1st Ave).
Overview for 1550 N 1St Avenue, Melrose Park
Number of Units12
Taxes$26,770
Sq. Footage-
Lot Size-
Bedrooms-
Bathrooms-
Laundry-
NeighborhoodMelrose Park
Unit Floor Level-
Property StatusClosed
Property TypeMulti Family 5+
MLS #11252753
List DateOct 21, 2021
Days on Market13
List Price$1,150,000
Closed DateDec 18, 2021
Investment Details for 1550 N 1St Avenue, Melrose Park
| Apartment Info | # Units | Rooms | Beds | Baths | Monthly income range(Min-Max) |
|---|---|---|---|---|---|
| Type1 | 10 | 5 | 2 | 1 | 939-1197 |
| Type2 | 2 | 3 | 1 | 1 | 914-914 |
Financial Info for 1550 N 1St Avenue, Melrose Park
- Annual Gross Income$165,840
- Total Annual Rental Income$165,840
- Total Monthly Rental Income$13,820
- Total Annual Expenses$69,950
- Annual Net Operating Income$95,890
- Other Expense$12,592 / Combination
- Janitor Expense-
- Water Expense$6,233 / Actual
- Repairs / Decor Expense$4,000 / Broker Projection
- Fuel Expense$5,844 / Actual
- Trash Expense$2,040 / Combination
- Manager Expense$6,480 / AC
- Electricity Expense$1,241 / Actual
- Insurance Expense$4,750 / Actual
Interior Features for 1550 N 1St Avenue, Melrose Park
Bathroom Information
- # of Baths: 0
School information for 1550 N 1St Avenue, Melrose Park
- Elementary School-
- Elementary School District-
- Middle or Junior School-
- Middle or Junior School District-
- High School-
- High School District-
Payment Calculator for 1550 N 1St Avenue, Melrose Park
Exterior, Parking & Pets for 1550 N 1St Avenue, Melrose Park
- Lot Size80 X 125
- Built before 1978Yes
- Age60
- PoolNo Private
Similar Listings for 1550 N 1St Avenue, Melrose Park
Schools near 1550 N 1St Avenue, Melrose Park
| School Information | Type | Grades | Rating |
|---|---|---|---|
Jane Addams Elementary School  0.5 ml | Public | PK-5 |   7 |
Lincoln Elementary School 0.7 ml | Public | PK-5 | 5 |
Willard Elementary School 0.9 ml | Public | PK-4 | 8 |
Melrose Park Elementary School 1.2 ml | Public | PK-5 | 5 |
Lincoln Elementary School 1.2 ml | Public | KG-4 | 9 |
Facts for 1550 N 1St Avenue, Melrose Park
312-392-1650
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Fulton Grace Realty are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.