2147 Ridge Avenue, Unit 3D
$365,000
4
2
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Description
This spacious top-floor 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....This spacious top-floor 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.
- Listed by Xiansong Liu • YOUMU VENTURES LLC
Property Details for 2147 Ridge Avenue, Unit 3D
Area
Evanston
TownshipEvanston
OwnershipCondo
Num Of Garage Spaces1.0
Num Of Parking Spaces1.0
Parking Included in PriceYes
Heat/FuelNatural Gas
Pets AllowedYes
LISTING UPDATED: 11/12/2024 12:07 AM
Property Details for 2147 Ridge Avenue, Unit 3D
Status | Active |
---|---|
MLS # | 12204718 |
Days on Market | 9 |
Taxes | $5,982 / year |
HOA Fees | $485 / month |
Condo/Co-op Fees | - |
Compass Type | Condo |
MLS Type | Attached Single / Condo |
Year Built | 1957 |
County | Cook County |
Building Information for 2147 Ridge Avenue, Unit 3D
Building/Complex2147 Ridge AveFloor3Stories3Residences12Pet PolicyAllowedYear Built1957
Property Information for 2147 Ridge Avenue, Unit 3D
Property History for 2147 Ridge Avenue, Unit 3D
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2147 Ridge Avenue, Unit 3D
Taxable ValueLand$2,186Additions$22,522Total$24,708
Tax Record2022$5,739 ($478 / month)
Home Facts
Beds0Lot Size9,558 SqFtStyleCondominiumYear Built1957CountyCOOKAPN11-07-119-045-1012
Schools near 2147 Ridge Avenue, Unit 3D
This home is within Evanston Twp Hsd 202 School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 8 |
Rating | School | Distance |
---|---|---|
Orrington Elementary School PublicK to 5 | ||
Haven Middle School Public6 to 8 | ||
Evanston Twp High School Public9 to 12 | ||
M L King Jr Lab Experimental School PublicK 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.
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