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245 Washington Ave

Highwood IL 60040

8
5
Multi-Family
Currently for sale - view listing

Overview

Investor special, 3 units in booming Highwood, $85, 000/yr in rents, nearly 7% CAP rate! Nestled in the foody town of Highwood, surrounding a lush front yard, sit two compelling and remodeled rental properties: one bi-level brick duplex with 5 beds/2 bath and one elegant stucco single family rental with 3 beds and 3 baths. The duplex consists of one top unit (3 bed, 1 bath) renting for $2, 845 per month and the bottom unit (2 bed, 1 bath) renting for $1, 400.00. (This bottom unit was just remodeled in May while the long-term tenant occupied the unit; with the remodel, the fair market rent is likely $1, 800-2, 000). The single family rental is leased at $2, 840 until Mar 31, 2026 (fair market rent is likely $3, 300 to $3, 500). This single family has a huge open basement which could be finished with and additional bed/bath/den, a mother-in-law suite, or a separate apartment with its own direct access. Tenants pay their own utilities. There is room for further expansion with fair market rent increases and development of the untapped single family basement.

Features

8 bedrooms
5 bathrooms
Multi-Family

Property history for 245 Washington Ave

2021
Sold
$612,000
29 Nov 2021 by Ila Coretti, of @properties Christie's International Real Estate
2019
Sold
$375,000
16 Apr 2019 by Carol De Grazia Santi, of Coldwell Banker Realty

Happy sellers in Highwood

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Local market activity for 8 bedroom multi families in Highwood

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Sales:
(619) 566-0008
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