$362,000
2147 Ridge Ave Apt 2D, Evanston, IL 60201
- 4Beds
- 2Baths
- -SqFt
- 4Beds
- 2Baths
- -SqFt
- Property TypeCondo
- Year Built1957
- HOA Fees$485/mo
- On highrises11 Days
- Garage1 Car
- Pet PolicyPets OK
Property Details
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.
Property Features
Bedrooms
- Bedrooms: 4
- Bedrooms Possible: 4
- Primary Bedroom Dimensions: 1 x 1
- Bedroom 2 Dimensions: 1 x 1
- Bedroom 3 Dimensions: 1 x 1
- Bedroom 4 Dimensions: 1 x 1
- Primary Bedroom Level: Main
- Bedroom 2 Level: Main
- Bedroom 3 Level: Main
- Bedroom 4 Level: Main
Property History
Neighborhood
Environmental Risk
Nearby Home Values
- Presented by:
- Xiansong Liu
- state license#471021591
- Brokered by:
- YOUMU VENTURES LLC
- (312) 888-5486
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