515 Prospect Street
Elgin, IL 60120

Status: Sold
Multi Family
4 beds
0 baths
0 sq.ft
Listing Price: $329,000
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About this home

Beautiful Victorian home. Currently a two flat. Just minutes to downtown Elgin with views of the park. Stunning curb appeal with a front porch. Large foyer with a beautiful wood staircase. High ceilings, arched door ways, & hardwood floors. Oversized 2 car garage. Freshly sealed driveway. Nice backyard. Both units are being rented out. The first floor unit has a long-time tenant. The property has been well maintained. Roof 2004, water heaters 2014, Furnaces 2013, 2017, washing machine 2022, gutters, fascia 2022. Apartment 2, 2022: fridge, kitchen & bath faucets, granite countertops, stove & overhead hood.

Property details

Property / Lot Details
Acreage 0.2
Lot Dimensions 132X65X132X65
Lot Size Less Than .25 Acre
Ownership Fee Simple
Type Unit 2 Flat
Number Of Units in Building 2
Property Type Two to Four Units
Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 100+ Years
3 Bedroom Unit in Building No
Approx Year Built 1905
Parking Total 2
Exterior Building Type Fiber Cement
Exterior Property Features Porch
Parking On-Site Yes
Garage Ownership Owned
Garage Type Detached
Parking Spaces Count 2
Parking Garage
Roof Type Metal
MRD Virtual Tour None
Virtual Tour Date 08/01/2024 4:17 pm
School / Neighborhood, Utilities, Financing, Location Details
CommunityFeatures Curbs, Sidewalks, Street Lights, Street Paved
Area Major Elgin
Zoning Type MULTI
Corporate Limits Elgin
Directions I-90 2 RT 25 South to Slade W to Prospect
Elementary School Mckinley Elementary School
Elementary Sch Dist 46
Heat/Fuel Natural Gas
High Sch Elgin High School
High Sch Dist 46
Sewer Public Sewer
Water Public
Jr High/Middle School Larsen Middle School
Jr High/Middle Dist 46
Township Elgin
Interior Features
Basement Description Unfinished
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 1250
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date 10/31
Rooms Total 5
Security Deposit 985
Tenant Pays Electric, Gas, Heat
Floor Number 1
Square Feet 1400
unit 2
Beds Total 2
Baths Total 1
Actual Rent 1450
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date 10/24
Rooms Total 5
Security Deposit 1450
Tenant Pays Electric, Gas, Heat
Floor Number 2
Square Feet 1200

Financials

Financing Conventional
Gross Rental Income $32,400
Insurance Expense $1,336
Net Oper Income $22,313
Rental Income 32400
Investment Profile Residential Income
Water Expense $1,800

Tax/Assessments/Liens

PIN 0612356002
Special Assessments N
Taxes $6,951
Tax Exemptions None
Tax Year 2023
$329,000 Listing Price:
MLS # 12124427
Investment Profile Residential Income
Listing Market Time 43 days
Basement Full
Type Unit 2 Flat
Number of Units in Building 2
Parking Garage
List Date 08/01/2024
Year Built 1905
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