Sold

2019 Ridge Avenue

2019 Ridge Avenue, Evanston, IL 60201

$525,000
Rare income opportunity two-unit house close to Northwestern campus in Evanston. This property is yielding a 7% cap rate at the asking price. A short 10-minute walk to the Northwestern campus, the owner has consistently rented to Northwestern students for 15 years. The property is currently rented until September of 2021. Current tenants are willing to extend the lease for another year. Keep it as an investment property or convert it to a single-family home. You can increase rent with some minor updates. Currently rented for $4,600/month ($2,300 per unit). Tenants pay for all utilities. The first floor has 2 large bedrooms, 1 bath, and a sunroom/office. The second floor offers 4 bedrooms and 1 bath. Laundry located in the basement. 2 car garage. Low maintenance as this out-of-state owner has managed this property with a handyman for over 15 years. Great location close to downtown Evanston, Northwestern campus, Lake Michigan, Metra, and Foster St. Purple Line. This home is sold AS-IS.

6
beds

2
baths

Lance Kirshner

Lance Kirshner

TITLE

Real Estate Broker | Team Leader

Features & Amenities

Interior

  • total bedrooms6
  • Total bathrooms2
  • full bathrooms2

Area & Lot

  • Status Sold
  • MLS ID11006959
  • TypeMULTI_FAMILY
  • YEAR BUILT1912
  • Elementary SchoolOrrington Elementary School
  • Middle SchoolHaven Middle School
  • High SchoolEvanston Twp High School
  • School District65

Exterior

  • Garage Space2
  • water SourceLake Michigan
  • HEAT TYPENatural Gas, Steam

Financial

  • Sales Price$525,000
  • Real Estate Tax $13,888

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