7701 West Belmont Avenue
$1,195,000
—
—
—
—
Listed By Compass
Description
This one-of-a-kind investment opportunity is located in the heart of Elmwood Park's bustling downtown. The property is a mixed-use building with 100 percent occupancy that offers incredible potential for investors. Upstairs, there are two fully rehabbed residential units, each featuring 2 BED/ 1 BATH with in-unit washer/dryer. Both units are fully occupied, with tenants responsible for their own gas and electricity, ensuring consistent and reliable rental income. The downstairs commercial storefront...This one-of-a-kind investment opportunity is located in the heart of Elmwood Park's bustling downtown. The property is a mixed-use building with 100 percent occupancy that offers incredible potential for investors. Upstairs, there are two fully rehabbed residential units, each featuring 2 BED/ 1 BATH with in-unit washer/dryer. Both units are fully occupied, with tenants responsible for their own gas and electricity, ensuring consistent and reliable rental income. The downstairs commercial storefront is currently utilized as a cafe and gaming room, providing a dynamic and popular space for the community. The commercial tenant is responsible for water, gas, electricity, and repairs. Tenant is open to extending their lease for an additional 5 to 10 years, offering a secure and stable long-term investment opportunity. Additionally, there is an extra commercial space that is currently leasing as a banquet facility or venue, complete with its own separate PIN number, address and entrance. The basement provides ample storage space, adding further convenience and functionality to the property. The building also features an outdoor courtyard and parking, which make it ideal for hosting events such as private parties or other gatherings. These features add further value and versatility to the space. The landlord is responsible for paying property taxes, while the current setup minimizes other maintenance responsibilities, creating a low-effort yet profitable investment opportunity. With its prime location, multiple revenue streams, and endless potential, this building is truly a gem. Don't miss your chance to own this remarkable property and take advantage of its many possibilities.
Property Details for 7701 West Belmont Avenue
Area
Elmwood Park
TownshipLeyden
ZoningRTAIL
LISTING UPDATED: 11/27/2024 12:06 AM
Property Details for 7701 West Belmont Avenue
Status | Active |
---|---|
MLS # | 12214986 |
Days on Market | 35 |
Taxes | $20,959 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Commercial Sale |
Year Built | 1950 |
Lot Size | 0.11 AC / 4,935 SF |
County | Cook County |
Building Information for 7701 West Belmont Avenue
Stories2Residences4Year Built1950Lot Size0.11 AC / 4,935 SF
Property Information for 7701 West Belmont Avenue
Property History for 7701 West Belmont Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 7701 West Belmont Avenue
Taxable ValueLand$7,691Additions$98,945Total$106,636
Tax Record2022$31,314 ($2,610 / month)
Home Facts
Stories1Lot Size2,348 SqFtStyleStoresYear Built1943CountyCOOKAPN12-25-105-011
Schools near 7701 West Belmont Avenue
This home is within Elmwood Park Community Unit School District 401.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Private - | PK to 8 |
Rating | School | Distance |
---|---|---|
John Mills Elementary School PublicPK to 5 | ||
Elm Middle School Public6 to 8 | ||
Elmwood Park High School Public9 to 12 | ||
St Celestine School PrivatePK 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
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.