Leased Two-Unit Multifamily
472 N Spring Street Elgin, IL 60120
472 N Spring Street, Elgin, IL, 60120
$420,000
For Sale
$420,000
MULTI_FAMILY - Elgin, IL
Lot Size0.20 Acres
Days on Market8
Property Features for 472 N Spring Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 6, Basement, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 3
- Parking
- 4
- Parking features
- Garage, Driveway, Owned
- Basement
- Full, Unfinished
- Standard status
- Active
- APN
- 0611484006
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7406
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Roof type
- Asphalt
Listing agency
HomeSmart Connect
(847) 495-5000
Listed by
Kevin Williams · License #475167087
(847) 495-5000
Added: Jul 16 Updated: Jul 22 at 1:17AM Checked: Jul 23 at 9:06AM
MLS# 12704270
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Investment Insights
Based on property information with market context.
This for-sale two-unit multifamily property offers two leased apartments with several 2020 upgrades. Remodel work in 2020 included two new eat-in kitchens with granite countertops and new appliances, new bathrooms, and a new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. The house and garage roof were replaced in 2020, with copper plumbing installed in place of old galvanized pipes. A large two-story detached garage on-site, currently used for owner storage, may be able to serve as a third-unit coach house development opportunity or be rented for indoor parking income.
The property includes a coin-operated commercial washer and dryer in the basement shared by both units. Gas and electric are separately metered. According to the current arrangement, second-floor tenants maintain the lawn and bushes and handle snow removal in exchange for a $60/month reduction in rent, reflected in the adjusted Unit 2 current lease amount.
A second-floor lease is noted at an adjusted $1,640/month, and both apartments are stated to be leased, with photos taken before tenant occupancy.
The property includes a coin-operated commercial washer and dryer in the basement shared by both units. Gas and electric are separately metered. According to the current arrangement, second-floor tenants maintain the lawn and bushes and handle snow removal in exchange for a $60/month reduction in rent, reflected in the adjusted Unit 2 current lease amount.
A second-floor lease is noted at an adjusted $1,640/month, and both apartments are stated to be leased, with photos taken before tenant occupancy.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separately metered units are currently leased, with coin-operated laundry shared in the basement.
Where is this duplex located?
The property is located at 472 N Spring Street Elgin, IL.
What is the asking price?
The asking price for this property is $420,000.
