HANDYMAN SPECIAL!!!

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

18.88% return

SP: $125,000

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Property Description

BRICK 8 UNIT BUILDING!!!! NEEDS REHAB AND IS SOLD FOR ONLY $15.6k PER UNIT!!! GOOD AREA AND CLEAN CITY!!!! UNITS RENT FOR $600 EACH!!!! RENOVATION BIDS ARE COMING IN AT $60k-$75k!!! PROPERTY WILL GENERATE A 17%+ NET RETURN ON INVESTMENT WITH $150K IN INSTANT EQUITY!!! DO NOT MISS OUT ON THIS OPPORTUNITY!!! PROFESSIONAL MANAGEMENT IS AVAILABLE.

Property Information

Listing statusActive
Property typeMulti Family
Total units8
Total bedrooms8
Total bathrooms8
Building size4464 sq. ft.
Lot size0.1 acres
Year built1927

County******** County
Subdivision********** *********
ConstructionBrick
RoofFlat
Water sourceCity water
Water disposalSewer
HeatingGas Furnace
CoolingWall A/C

Property Financial Summary

Sale price$125,000
Estimated rehab¹$75,000
Total investment$200,000

TypeProforma
After repair value$350,000
Potential profit$150,000

Gross income (annually)$57,600
Operating expenses (annually)$19,846
Net income (annually)$37,754
Gross return28.80%

Gross income (monthly)$4,800
Operating expenses (monthly)$1,654
Net income (monthly)$3,146
Net return18.88%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$600/month$7,200/year
Unit 2: 1 bed / 1 bath$600/month$7,200/year
Unit 3: 1 bed / 1 bath$600/month$7,200/year
Unit 4: 1 bed / 1 bath$600/month$7,200/year
Unit 5: 1 bed / 1 bath$600/month$7,200/year
Unit 6: 1 bed / 1 bath$600/month$7,200/year
Unit 7: 1 bed / 1 bath$600/month$7,200/year
Unit 8: 1 bed / 1 bath$600/month$7,200/year
Total$4,800/month$57,600/year

Expenses

Property Taxes$292/month$3,506/year
Insurance (estimated)$208/month$2,500/year
Electric bill$70/month$840/year
Gas Utility Bill$300/month$3,600/year
Water and Sewer$250/month$3,000/year
Maintenance reserve$233/month$2,800/year
Lawn care$150/month$1,800/year
Waste Collection$150/month$1,800/year
Total$1,654/month$19,846/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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