Active
2147 Ridge Avenue Unit: 2D
Evanston IL, 60201
$362,000
Active
4 Beds
2 Baths
Condos
Built in 1957
Courtesy of YOUMU VENTURES LLC
This spacious 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.
12204434
MLSⓇ ID
November 6, 2024
Listed
November 12, 2024
Updated
Map
2147 Ridge Avenue Unit: 2D
Evanston IL, 60201
Interior Features
Total Stories
3
Bedrooms
4
Total Bathrooms
2
Full Bathrooms
2
Fireplace
No
Cooling
Yes
Cooling Description
Window/Wall Units - 3
Heating
Yes
Heating Description
Natural Gas
Exterior/Building Features
School Information
School District
65
High School
Evanston Twp High School
Elementary School
Orrington Elementary School
Other Property Details
Area Name
Evanston
Taxes
$5,172
Tax Frequency
Annually
Days on Market
7
Association Fee
$485
Association Fee Frequency
Monthly
Garage
Yes
Garage Spaces
1
Parking Total
1
View
No
County
Cook
Municipality
Evanston
Water Source
Public
Pool
No
Courtesy of YOUMU VENTURES LLC, Xiansong Liu,
Listing Contact: 312-888-5486
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Based on information submitted to the MLS GRID for MRED 11/12/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
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Data last updated 6:40 AM UTC, 11/12/2024
