708 South Grove Avenue
708 South Grove Avenue
$668,000
5
3
1
3,250
3,250
$206
Contingent
Description
This property is a rare find - it functions beautifully as an investment property and could also be perfect for multi-generational living. The icing on the cake is the coach house over the garage that currently operates as a successful airbnb that generates approx. $25000/year in additional income! With the growing demand for short-term rentals, capitalize on the opportunity to generate substantial rental income from the Airbnb accommodations while enjoying the stability of long-term tenants in the...This property is a rare find - it functions beautifully as an investment property and could also be perfect for multi-generational living. The icing on the cake is the coach house over the garage that currently operates as a successful airbnb that generates approx. $25000/year in additional income! With the growing demand for short-term rentals, capitalize on the opportunity to generate substantial rental income from the Airbnb accommodations while enjoying the stability of long-term tenants in the main residence. Whether utilized as an Airbnb rental, guest suite, or home office, this versatile space offers endless possibilities. The owner's unit is a large 9 room, 3+ bdrm, 2.1 bath apartment which is duplexed into the basement, It includes a family room and an office/4th bedroom (rent expected to be approx $3,400 per month) . The 2nd floor apartment is a 2 bedroom, 1 bath apartment that has tenants you would love to keep. Heat (gas) is metered separately so each unit pays for their own heat and electric. Both units have been upgraded with newer kitchens and baths. The 1st floor unit has a large primary bedroom with an en-suite bath and walk-in closet). Each unit has its own furnace, central air, and washer & dryer. The home is situated on a generous 50' lot - it has plenty of green space and beautiful gardens as well as a great slate stone patio. Parking available for 4 cars --2 in the over-sized garage and 2 exterior spaces. This property has been lovingly maintained by the current owner-occupants for many years, and they have invested significantly in updates to major systems. Recent improvements include. Pella windows throughout; Stucco replacement/repair, exterior painting, newer roof, newer garage (including concrete pad and parking pad) both furnaces (under 5 yrs old), flood control system, electrical & plumbing updates. All of the heavy-lifting has already been done. This Property is in an ideal location, in an active and fun residential neighborhood, just steps to the Southtown Oak Park Ave Business District, with its many shopping and dining options, and less than 2 blocks to the Blue Line. Don't miss out on this rare chance to own a investment property with dual income potential. Whether you are an investor looking to expand your portfolio or a homeowner seeking supplemental income, this property offers endless possibilities.
- Listed by Jane McClelland • RE/MAX In The Village
Property Details for 708 South Grove Avenue
Area
Oak Park
TownshipOak Park
OwnershipFee Simple
Num Of Garage Spaces2.0
Num Of Parking Spaces4.0
Parking Included in PriceYes
Heat/FuelNatural Gas
Location
LISTING UPDATED: 05/21/2024 11:34 AM
Property Details for 708 South Grove Avenue
Status | Contingent |
---|---|
MLS # | 12049915 |
Days on Market | 5 |
Taxes | $11,306 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Two to Four Units / 2 Flat |
Year Built | 1919 |
Lot Size | 0.14 AC / 6,250 SF |
County | Cook County |
Location
Building Information for 708 South Grove Avenue
Stories-Residences2Year Built1919Building Size-Lot Size0.14 AC / 6,250 SF
Payment Calculator
$4,588 per month
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Property Information for 708 South Grove Avenue
Property History for 708 South Grove Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 708 South Grove Avenue
Taxable ValueLand$6,250Additions$26,613Total$32,863
Tax Record2021$11,051 ($921 / month)
Home Facts
Baths2Total Finished SqFt2,351 SqFtAbove Grade Finished SqFt2,351 SqFtStories2Lot Size6,250 SqFtStyleMulti-Family Res (5+ Units)Year Built1918CountyCOOKAPN16-18-125-003
Schools near 708 South Grove Avenue
This home is within Oak Park - River Forest School District 200.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Private - | PK to 8 |
Rating | School | Distance |
---|---|---|
Abraham Lincoln Elementary School PublicK to 5 | ||
Gwendolyn Brooks Middle School Public6 to 8 | ||
Oak Park & River Forest High School Public9 to 12 | ||
Ascension PrivatePK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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