37-39 S PORTER Street
Elgin, IL 60120

Status: Sold
Multi Family
4 beds
0 baths
0 sq.ft
Listing Price: $300,000
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About this home

This Renovated 2-Unit Brick Investment Property is a Money Making Machine! 1st Floor Unit 2 Bed, 1 Bath Duplexes Down & is Month to Month at $1200! This Unit has Potential to Add Additional Legal Bedrooms if Egress Windows are Installed Includes a Washer & Dryer! Perfect for an Owner Occupant Who Wants to Rent Hack or Multi-Generational Living! Great for Investors Who Want Consistent Cash Flow, as the Current Tenant Would Prefer to Stay! Owner Believes There is Room to Increase Rent for 1st Floor Unit Substantially. A 2nd Bathroom Could Be Added to the Lower Level. 2nd Floor Unit is 2 Bed, 1 Bath, Was Recently Renovated & is Leased Through March 2025 at $1350 Monthly! This Unit Includes a Complete Kitchen Remodel (2024) w/ Sleek White Cabinets, Quartz Countertops, Stainless Steel Appliances, GFCI Outlets (2024), New Carpeting (2024), Flooring (2024), Baseboard (2024), Fresh Paint (2024) & Complete Bath Remodel w/ White Subway Tiled Shower, New Vanity & Fixtures. Roof & 2nd Story Siding Was Replaced in 2023! Both Tenants Pay for Gas, Electricity & Garbage! Owner Pays Water & Common Area Utilities. Property Includes a 2 Car Garage & 2 Story Deck! 48 Hour Notice Required.

Property details

Property / Lot Details
Acreage 0.15
Lot Dimensions 67X102X66X102
Lot Size Less Than .25 Acre
Other Structures Garage(s)
Ownership Fee Simple
Type Unit 2 Flat, 1 Story Unit/s, 2 Story Unit/s
Number Of Units in Building 2
Property Type Two to Four Units
Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 91-100 Years
3 Bedroom Unit in Building No
Approx Year Built 1929
Parking Total 2
Exterior Building Type Brick
Exterior Property Features Deck
Parking On-Site Yes
Garage Ownership Owned
Garage Type Detached
Parking Spaces Count 2
Parking Garage
Rehab Year 2024
Roof Type Asphalt
MRD Virtual Tour None
School / Neighborhood, Utilities, Financing, Location Details
CommunityFeatures Curbs, Sidewalks, Street Lights, Street Paved
Area Major Elgin
Zoning Type MULTI
Corporate Limits Elgin
Directions 20 WEST TO 25/LIBERTY S TO LAUREL LEFT TO PORTER TO HOME
Elementary Sch Dist 46
Heat/Fuel Natural Gas, Forced Air
High Sch Dist 46
Sewer Public Sewer
Water Public
Jr High/Middle Dist 46
Township Elgin
Interior Features
Basement Description Partially Finished, None
Basement Bathrooms No
Basement Full
Bedrooms Count 4
Bedrooms Possible 4
Baths Count 2
Full Baths in Building Count 2
Total Rooms 8
Units
unit 1
Beds Total 2
Baths Total 1
Actual Rent 1200
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date M/M
Rooms Total 5
Security Deposit 1200
Tenant Pays Electric, Gas, Heat
Floor Number 1
unit 2
Beds Total 2
Baths Total 1
Actual Rent 1350
Appliances And Features Stove, Refrigerator, Microwave
Full Baths Total 1
Lease Expiration Date 3/25
Rooms Total 4
Security Deposit 1350
Tenant Pays Electric, Gas, Heat
Floor Number 2

Financials

Financing FHA
Gross Rental Income $30,600
Insurance Expense $2,255
Insurance Expense Source Actual
Net Oper Income $22,336
Rental Income 30600
Investment Profile Residential Income

Tax/Assessments/Liens

PIN 0613405006
Special Assessments N
Taxes $6,009
Tax Exemptions None
Tax Year 2023
$300,000 Listing Price:
MLS # 12079062
Investment Profile Residential Income
Listing Market Time 83 days
Basement Full
Type Unit 2 Flat, 1 Story Unit/s, 2 Story Unit/s
Number of Units in Building 2
Parking Garage
List Date 06/12/2024
Year Built 1929
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