12438 Fairview Avenue

Blue Island, IL 60406

$520,000
Price
11
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Discover a lucrative investment (9.73% Cap Rate) with this fully occupied 6-unit building, perfect for investors looking for reliable cash flow and potential for long-term appreciation. The property includes five (5) two-bedroom/one-bathroom units and one (1) one-bedroom/one-bathroom unit. Currently, it generates $6,380 in monthly rental income. 3 units in the building are currently priced below market rates, highlighting substantial future rent increase potential as tenants change. Recent renovations...Discover a lucrative investment (9.73% Cap Rate) with this fully occupied 6-unit building, perfect for investors looking for reliable cash flow and potential for long-term appreciation. The property includes five (5) two-bedroom/one-bathroom units and one (1) one-bedroom/one-bathroom unit. Currently, it generates $6,380 in monthly rental income. 3 units in the building are currently priced below market rates, highlighting substantial future rent increase potential as tenants change. Recent renovations have significantly enhanced the property, including unit upgrades, freshly painted common areas, upgrade to the roof, and other capital expenditures, ensuring reduced maintenance costs and enhanced property value. This investment allows you to start earning immediately. Furthermore, this property is available for purchase along with 12930 Page Court in Blue Island, presenting an even greater investment opportunity.
  1. Listed by Michael Scanlon • eXp Realty, LLC
  2. Listed by Cody Starostka • eXp Realty, LLC

Property Details for 12438 Fairview Avenue

Area
Blue Island
Zoning
MULTI
LISTING UPDATED: 09/30/2024 07:20 AM

Property Details for 12438 Fairview Avenue

StatusActive
MLS #12121323
Days on Market119
Taxes$11,034 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance
Year Built1962
Lot Size0.14 AC / 6,299 SF
CountyCook County

Building Information for 12438 Fairview Avenue

Stories3Residences6Year Built1962Building Size-Lot Size0.14 AC / 6,299 SF

Property Information for 12438 Fairview Avenue

General Information
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Baseboard
  • # Of Refrigerators: 6
  • Num of Baths: 6.0
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Exterior Entrance,Corridor-Interior Entrance,Garden Complex
  • Lot Dimensions: 6299
  • Stories: 3
  • # Of Ranges: 6
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 25
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $673.00
  • Fuel Expense: $3,534.00
  • Gross Income: $6,380.00
  • Gross Scheduled Income: $76,560.00
  • Insurance Expense: $4,437.00
  • Maintenance Expense: $3,000.00
  • Janitor Expense: 0
  • Total Monthly Income: 6380
  • Net Operating Income: $50,611.00
  • Operating Expense: $25,949.00
  • Other Expense: $.00
  • Trash Expense: $1,084.00
  • Water Sewer Expense: $2,187.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 5
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 1
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 12438 Fairview Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 12438 Fairview Avenue

Taxable ValueLand$3,149Additions$19,962Total$23,111
Tax Record2022$11,035 ($920 / month)
Home Facts
Baths4Total Finished SqFt3,276 SqFtAbove Grade Finished SqFt3,276 SqFtStories2Lot Size6,299 SqFtStyleMulti-Family Res (5+ Units)Year Built1962CountyCOOKAPN24-25-408-027

Schools near 12438 Fairview Avenue

This home is within Cook County School District 130.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 3 to 8
Rating
School
Distance
George Washington Elementary School
PublicK to 5

Veterans Memorial Middle School
Public6 to 8

Dd Eisenhower High School (Campus)
Public9 to 12

A.N.C.H.O.R. Academy
Public3 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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12438 Fairview Avenue is a multi-family home for sale in Blue Island, IL 60406. This property was listed for sale on July 25, 2024 by eXp Realty, LLC, it's currently listed at $520,000. It has been on the market for a total of 119 days and was last sold on January 10, 2022. This listing's school districts are Cook County School District 130, Chsd 218 School District. Nearby schools include George Washington Elementary School, Veterans Memorial Middle School and Dd Eisenhower High School (Campus). 12438 Fairview Avenue is a 11-bed, 6-bath, multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of eXp Realty, LLC

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 09/30/2024 07:20 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.