462 Ashland AVE Elgin, IL 60123 New

UPDATED: 03/11/2026 05:07 AM ON MARKET: 8 days on market

$310,000

5 Beds2 Baths

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12583713

Style Farmhouse

Bedrooms 5

Year Built 1895

Annual Tax Amount $6,267

Tax Year 2024

Lot Dimensions 60X133

Property Sub-Type Two to Four Units

Location

State IL

County Kane

Area Elgin

Rooms

Basement Unfinished,Exterior Entry,Partial

Interior

Heating Electric,Baseboard,Zoned

Equipment TV-Cable,CO Detectors,Ceiling Fan(s),Multiple Water Heaters

Fireplace N

Exterior

Community Features Curbs,Sidewalks,Street Lights,Street Paved

Roof Type Asphalt

Building

Dwelling Type Two to Four Units

Building Description Frame, No

Sewer Public Sewer

Water Public

Structure Type Frame

New Construction false

Schools

High Schools Larkin High School

School District 46 ,46, 46

Others

Ownership Fee Simple

Special Listing Condition None

Property Description

This well-maintained 2-unit investment property offers stable rental income and numerous recent upgrades, making it an excellent opportunity for investors or owner-occupants. Ideally situated on a quiet, charming street, the property is just minutes from the Metra train, Grolich Park, Forest Preserve, I-90, US-20, I-390, shopping, and dining, providing convenience and strong rental appeal. The property is fully rented with reliable tenants, currently generating $3,050 per month in rental income. The lower unit features 3 bedrooms and 1 bath and rents for $1,675/month, while the upper unit offers 2 bedrooms and 1 bath and rents for $1,375/month. This property has been consistently maintained with numerous updates over the past 10 years, including a new driveway, exterior doors, carpeting, and countertops. More recent improvements include new windows, water heater, washer, and added attic insulation. The electrical system has been upgraded with three new 100-amp services, and all plumbing has been updated. Each unit pays its own electric, helping reduce owner expenses. The exterior basement access allows both units to conveniently use the shared laundry area. A large storage shed in the backyard offers additional space and even the potential for extra rental income. With solid rental history, thoughtful updates, and a prime location, this property presents a fantastic income-generating opportunity.