2147 Ridge Avenue 3d, Evanston, IL, 60201

$365,000

4

Beds

2

Baths

About 2147 Ridge Avenue 3d

This spacious top-floor 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.

Additional Information: This property is located in the Evanston neighborhood, IL. This 4 bedrooms attached single property is priced at $365,000.

Facts & Features

MLS® # 12204718
Price $365,000
Bedrooms 4
Bathrooms 2.00
Full Baths 2
Taxes $5,982
HOA Fees $485
HOA Fees Freq. Monthly
Acres 0.00
Year Built 1957
Type Residential
Sub-Type Attached Single
Status Contingent

Community Information

Address 2147 Ridge Avenue 3d
Area Evanston
City Evanston
County Cook
State IL
Zip Code 60201

Amenities

Parking Spaces 1
# of Garages 1
Garages Heated
Is Waterfront No
Has Pool No

Interior

Heating Natural Gas
Cooling Window/Wall Units - 3+
Fireplace No
# of Stories 3
Has Basement Yes
Basement None

Exterior

Exterior Brick

School Information

District 202
Elementary Orrington Elementary School
Middle Haven Middle School
High Evanston Twp High School

Additional Information

Days on Market 31
Foreclosure No
Short Sale No
RE / Bank Owned No
Taxes $5,982

Listing Details

OfficeYOUMU VENTURES LLC

Listing Map

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