TITLE:
12-Unit Chicago Apartment Building
CONTROL:
Owner
VALUE:
$2,100,000
LOAN:
$750,000
EQUITY:
$1,350,000
TYPE:
Multi-Family
HAVE:
Tenant stable building with upside by furnishing an entire wing of this 3-wing building to enhance income with NO major construction or investment. Highly effective low-cost management in place,
ADDRESS:
4609-15 S Prairie Ave, Chicago, Illinois
BENEFITS TO NEW OWNER:
Tenant stable building with BIG upside! Convert one wing to furnished apartments to enhance income by 30%!
GROSS SCHEDULED INCOME:
$229,680 Actual
VACANCY LOSS:
$11,484
GROSS EFFECTIVE INCOME:
$218,196
EXPENSES:
$66,000
NOI:
$152,196
DEBT SERVICE:
$90,000
CASH FLOW:
$62,196
CAP RATE:
7.25%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$750,000
$7,500
12%
12/31/0020
No
BENEFITS SOUGHT:
Seeking deep value-add opportunity to trade this building.
CAN ADD:
Chicago MF apartment buildings, AZ apartment buildings and a California SFR.
REMARKS:
The "L" public train transport is easy walking distance, most tenants don't need cars. With NO major investment or construction convert one wing to furnished and realize 30% more upside income!
COUNSELOR:
Paul Krause
eXp Realty
21515 Hawthorne Blvd, #200
Torrance, California, 90503
