318 Custer AVE Open House Save Request In-Person Tour Request Virtual Tour
Evanston,IL 60202
OPEN HOUSE
Fri Jun 06, 5:00pm - 7:00pm Sat Jun 07, 11:00am - 1:00pm
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12379506
Bedrooms 5
Maintenance Fees $3,600
Year Built 1957
Annual Tax Amount $9,808
Tax Year 2023
Lot Size 3,920 Sqft
Lot Dimensions 35 X 122
Property Sub-Type Two to Four Units
Property Description
Turnkey 3-unit building in a prime Evanston location with strong rental income and significant recent upgrades. Units feature refinished hardwood floors and new kitchen flooring (2021), updated bathrooms (2021), and fresh paint throughout (2022). The garden unit was fully renovated in 2022 and is currently used as an AirBnB, with a proposed monthly rent of $1,400/month. Capital improvements include new interior and exterior doors (2021), new windows (2022), new electrical panel (2022), 3 new furnaces (2022), a new water heater (2025), new gutters (2023), tuckpointing (2021), and a flood control system installed in 2022 with ongoing annual maintenance. The 1st & 2nd floor units have central A/C. Current rent roll: 1st floor: 2 bed/1 bath at $1,525 | 2nd floor: 2 bed/1 bath at $1,625 | garden: 1 bed/1 bath proposed $1,400 for the garden unit; totaling $4,550/month and $54,600 annually. Operating expenses with estimated total expenses of $24,053.46 and NOI of $30,546.54. An outstanding opportunity for both investors and owner-occupants to acquire a well-maintained, income-producing asset ideally located near CTA, Metra, top-rated schools, downtown Evanston, and retail amenities, in a strong rental market.
Location
State IL
County Cook
Area Evanston
Zoning MULTI
Rooms
Basement Finished,Full
Interior
Heating Natural Gas,Forced Air
Equipment CO Detectors
Fireplace N
Exterior
Roof Type Asphalt
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
Elementary Schools Oakton Elementary School
Middle Schools Chute Middle School
High Schools Evanston Twp High School
School District 65 ,65, 202
Others
Ownership Fee Simple
Special Listing Condition None