Gorgeous, well maintained INCOME GENERATING 3 flat near Downtown Elgin (1 block outside of the Historic District) boasting 2944 SQ FT! The perfect investment opportunity! 2 out of the 3 units are currently rented, UNIT 3 is recently vacant. So buyer could move in for now and then switch to the larger 2 bedroom unit once the current tenants are out and rent units 2 & 3 to family/ friends! ROOF IS NEW. Exterior & siding restored & repainted ~ 5 years ago. Plumbing was recently updated. All units have gorgeous hardwood floors throughout, separate entrances and parking spaces (currently unit 1 is utilizing the 2.5 car garage and units 2 & 3 have the exterior spaces.) Each unit has their own electric meter & cooking gas is paid for by tenants. Current landlord pays heat, water, & trash. Extra storage space & free laundry is provided in basement. Unit 1 is a 2 bd/ 2 bath and is the only unit located on the first floor. It is the largest unit of the 3, at 1500 sq. ft. Unit has lots of livable space- with a living room, family room (that could be converted to 3rd bedroom if needed) & a gorgeous formal dining room featuring a beautiful antique marble fireplace with gold inlay. Tenant of unit 1 currently pay $1k/ month in rent which is extremely low for the size/ quality of this unit- but tenant handles all property maintenance for landlord. (According to current market rent; rent could be adjusted to ~$2k) Units 2 and 3 are both 1 bd/ 1 bath units, located on the 2nd floor of property. Unit 2 is approximately 1100 sq. ft. The unit is very bright & open, featuring a generous sized living room and lots of closet space. Rent could be raised to $950- $1k. Unit 3 is ~ 400 sq. ft. with a good sized kitchen & smartly utilized dining area. (could be rented for ~$895) All appliances in units 1 & 2 were installed 2019- 2021 and the windows in units 2 & 3 were recently restored. Current water heater is from 2008 and working well, but owner will be leaving a new water heater for buyer to use once needed. Do not let this fantastic investment opportunity pass by. Schedule a showing today!
