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Property view

2147 Ridge Avenue #3D, 
Evanston, IL 60201

$415,000


4

Beds


2

Baths


-

Sq Ft


Condo

Sold

Listed by

Xiansong Liu

Bought with YOUMU VENTURES LLC

Youmu Ventures LLC.

MLS#

12204718

Source:

MLSNI

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About This Home

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.

Home Facts

Condo

2 Baths

4 Bedrooms

Built in 1957

Price Summary

365,000

MLS #:

12204718

Sold:

February 7, 2025


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2


Structure

Structure

Year Built:

1957


Finances & Disclosures

Finances

Price:

$365,000

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