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647 Asbury Ave 2 Unit Apartment Building $849,000 ($424,500/Unit) Evanston, IL 60202
INVESTMENT HIGHLIGHTS
- Garden Unit is 50% remodeled. Finish project and start renting (legal unit)
- Close to new Robert Crown Recreation Facility, Main Street Shopping Center, transportation, 2 miles from NU and Lake Michigan
- Lots of Natual Light - Tenants Love
EXECUTIVE SUMMARY
Fully leased 2-flat with strong rents and zero deferred maintenance. A must-see! Both units were gutted to the studs and rebuilt with modern finishes and feels more like a home, than an apartment. Designer-renovated kitchens with quartz counters, stainless steel appliances, updated baths, in-unit laundry, spacious bedrooms, and large living areas. Side yard for gardening or relaxing by firepit, plus a 2-car garage. Rentable garden unit half completed, - perfect for added income or owner's space. Prime location near public transit, Robert Crown Center, library, shops, NU, and restaurants. Turnkey and tenant-approved!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$59,520
|
$13.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$59,520
|
$13.20
|
| Taxes |
$12,677
|
$2.81
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$12,677
|
$2.81
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $59,520 |
| Annual Per SF | $13.20 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $59,520 |
| Annual Per SF | $13.20 |
| Taxes | |
|---|---|
| Annual | $12,677 |
| Annual Per SF | $2.81 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $12,677 |
| Annual Per SF | $2.81 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $849,000 | Building Class | C |
| Price Per Unit | $424,500 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 4,510 SF |
| No. Units | 2 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1916/2024 |
| Apartment Style | Low-Rise | Parking Ratio | 0.44/1,000 SF |
| Zoning | R2 - The R2 single-family residential district is intended to provide for small lot single-family development at a relatively low density and to preserve. | ||
| Price | $849,000 |
| Price Per Unit | $424,500 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,510 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1916/2024 |
| Parking Ratio | 0.44/1,000 SF |
| Zoning | R2 - The R2 single-family residential district is intended to provide for small lot single-family development at a relatively low density and to preserve. |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Sunroom
- Walk-In Closets
- Wi-Fi
- Yard
- Built-In Bookshelves
- Handrails
- Intercom
- Island Kitchen
- Porch
- Smoke Free
- Window Coverings
- Large Bedrooms
- Quartz Countertops
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $2,375 | - |
| 2+1.5 | 2 | $2,585 | - |
1 1
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 11-19-312-058-0000 | Total Assessment | $53,806 |
| Land Assessment | $12,403 | Annual Taxes | $12,677 ($2.81/SF) |
| Improvements Assessment | $41,403 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
11-19-312-058-0000
Land Assessment
$12,403
Improvements Assessment
$41,403
Total Assessment
$53,806
Annual Taxes
$12,677 ($2.81/SF)
Tax Year
2024
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647 Asbury Ave
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