Investors and landlords! Don't miss this remarkable opportunity: a beautiful Elmwood Park condo built in 1970, offering 1 bedroom, 1 bathroom, and an assigned and covered parking spot located beneath the car port. Rent as is for $1200 per month based on local comps. Enhancements to flooring, paint, kitchen, and bathroom will instantly add equity and higher rental income! 

Financials

Rental rates in area: $1200/month

Starting Price: $80k

Buy Now Price: $90k

ARV: $125k

Gross Margin: $55k

Low ARV Price Range: $115k

High ARV Price Range: $135k

Property Information

1 bed/ 1 bath

800 square footage

Built in 1970

Seize this incredible chance to acquire a charming condo in Elmwood Park, constructed in 1970. This unit features 1 bedroom, 1 bathroom, and comes with a dedicated and covered parking spot under the carport. Currently, it can be rented out for $1200 per month, according to local market comparisons, satisfying the 1% rule. Simple upgrades to the flooring, paint, kitchen, and bathroom can immediately boost its value and rental rates.

Comps In Area Within Last 6 Months

2330 N Harlem Ave Apt 3A, 1/1 800 sqft $135k CONTINGENT

2334 N Harlem Ave Apt 3B, 1/1 600 sqft $125k LISTED on 05/25/2024

2334 N Harlem Ave Apt 3A, 1/1 800 sqft $115k on 01/02/2024

7549 West Belden Avenue, 1/1 800 sqft $130k on 12/18/2023

2146 N 73rd Ave #G, 1/1 800 sqft Renting for $1195/month

We have a direct contract with the seller and a NOI has been recorded against the title for this property. Contacting the seller directly will result in a lawsuit. Our attorney is on notice.

Simply Sell RE LLC assumes no liability for the accuracy of any estimates or information provided. End buyers must conduct own due diligence. The property is to be sold as-is. Proof of funds is required. Cash or hard money only. End buyer pays all closing costs and fees associated with this transaction. $10,000 Non-Refundable EMD needed to secure the contract.