Essex Realty Group, Inc. is pleased to announce the sale of 530-32 Hillside Avenue, a 12 unit multifamily property located in the highly desirable DuPage County suburb of Glen Ellyn. Hillside Apartments has been in the same family for nearly three decades and impeccably maintained since acquisition. The Property is comprised of three (3) studios and nine (9) 1 Bd/1 Ba units. The one-bedroom units are quite spacious (1,000+ SF) and allow for a seamless two bedroom conversion.
530-32 Hillside Avenue is a unique and rarely available multifamily investment opportunity. The Property is located just two blocks (.3 miles) from the Glen Ellyn Metra Station and steps from Main St. which features numerous restaurants and shops. The ideal location affords tenants with all the amenities of downtown Glen Ellyn within walking distance. Glenbard West High School, Memorial Park, Lake Ellyn, and the Illinois Prairie Path are also located within walking distance of the Property.
Current ownership has renovated 10 of the 12 units with newer kitchens and bathrooms, refinished flooring, and updated fixtures. Due to the generous square footage of one-bedroom units, an investor has the opportunity to convert these units to two bedrooms, potentially realizing a 15+% increase in rents. This upside would equate to a $20,000+ increase in annual rental income.
- Essex Generated 25 Property Tours in Two Weeks
- 10+ Offers
- Sold Over List Price in 30 Days
- 12 Units: Three (3) Studios & Nine (9) 1Bd/1Ba
- Steps to Glen Ellyn Metra and Downtown Amenities