*** ********* ***, ********, IL

18.80% return

SP: $199,900

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Property Description

VALUE ADD 6 UNIT!!!

Property is in good condition. FULLY OCCUPIED with good tenants! Spacious units. Newer roof. Additional unit can be added in the basement to make this a true 7 unit building. Separate electric & gas meter. City water & sewer. Potential to generate an 18%+ NET RETURN ON INVESTMENT!!! 70K INSTANT VALUE ADD!!

Financing and property management is available.

Property Information

Listing statusSold
Property typeMulti Family
Total units7
Total bedrooms10
Total bathrooms7
Building size3952 sq. ft.
Lot size0.2 acres
Year built1932

County******** County
Subdivision********** *********
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingElectric baseboards
CoolingWindow A/C

Property Financial Summary

Sale price$199,900
Estimated rehab¹$30,000
Total investment$229,900

TypeProforma
After repair value$299,900
Potential profit$70,000

Gross income (annually)$70,200
Operating expenses (annually)$26,979
Net income (annually)$43,221
Gross return30.54%

Gross income (monthly)$5,850
Operating expenses (monthly)$2,248
Net income (monthly)$3,602
Net return18.80%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$750/month$9,000/year
Unit 2: 1 bed / 1 bath$750/month$9,000/year
Unit 3: 2 bed / 1 bath$950/month$11,400/year
Unit 4: 1 bed / 1 bath$750/month$9,000/year
Unit 5: 1 bed / 1 bath$750/month$9,000/year
Unit 6: 2 bed / 1 bath$950/month$11,400/year
Unit 7: 2 bed / 1 bath$950/month$11,400/year
Total$5,850/month$70,200/year

Expenses

Property Taxes$378/month$4,532/year
Electric and Gas$274/month$3,287/year
Water and Sewer$400/month$4,800/year
Waste Collection$130/month$1,560/year
Insurance (estimated)$233/month$2,800/year
Maintenance reserve$833/month$10,000/year
Total$2,248/month$26,979/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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