2147 Ridge Avenue #3D

Evanston, IL 60201

  • 4 Bed(s)
  • 2 Bath(s)
  • 0 Sqft
$365,000

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. 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.

  • Property Type

    Residential

  • County

    Cook

  • Style

    Residential

  • AD ID

    47548393

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Property Details

  • Bedroom Information

    • Total Bedroom: 4
    • Room Types: No additional rooms

    Bathroom Information

    • Total Baths: 2
    • Full Baths: 2

    Heating & Cooling

    • Heating: Natural Gas
    • Cooling: Window/Wall Units - 3+
    • WaterSource: Public

  • Building Information

    • Year Built: 1957

  • Lot Information

    • Lot Dimensions: CONDO

    Property Information

    • Property Type: Residential
    • Sub Type: Attached Single
    • Type Attached: Condo

  • Listing Price Information

    • Original List Price: $365000

  • Tax Information

    • Annual Tax: $5981.54
    • Tax Year: 2023
    • Parcel Number: 11071190451012

  • Parking Information

    • Total Parking: 1

    Homeowners Association Information

    • Included Fees: Water, Insurance, Snow Removal
    • HOA: 485 Monthly

  • School Information

    • Elementary School: Orrington Elementary School
    • Junior High School: Haven Middle School
    • Senior High School: Evanston Twp High School

    Location Information

    • City: Evanston
    • Direction: Ridge Ave & Leonard Pl
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BuyOwner last updated this listing Wed Nov 13 2024

  • MLS: MRD12204718
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Midwest Real Estate Data LLC (MRED)

is a Home, with 4 bedrooms which is for sale, it has 0 sqft, 0 sized lot, and 1 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Evanston , in zip code 60201, this Cook County Home and are nearby neighborhoods.