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Property

Northwest Suburbs 6 Unit Building

 1040 W Irving Park Rd. Bensenville IL 60106

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$725,000

Pricing/Terms Explained 

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$120,833 Per Unit

** Inclusive of Buyer's Premium

9
Beds

6
Baths

5,544
Sq. Ft.

1976
Yr. Built

100%
Occupancy

13+
Spaces

2

Stories

Boiler
Heat

Paid
Laundry

Street
View

Contract Copy
 

Buyer's Agreement
 

Property Summary

Type

Multifamily

In Place NOI
$42,600

Target CAP Rate
5.88%

Today's Market Value
$775,000

Target Purchase Price
$725,000

 



Units
6

Projected NOI
$56,400

Market CAP Rate
5.5%

Value w/Market Rents
$1,025,000

Cost Per Unit
$120,833

Investment Strategy
Purchase at target price with 20% down payment. Upon purchase raise rents to appropriate levels. 2 Bed market rents are well over $1,300 in the area. Current seller has been slow and inefficient on rental increases. Refinance and pull cash out based on higher value of the property. 

About The Property
A 6 Unit located in Bensenville within high rated school district. Units have been decently updated within the last few years. The property has been very well maintained. The roof is newer and the brick seems to be recently tuckpointed and in good shape. The HOA covers garbage, snow, and lawn care.

About The Neighborhood
Bensenville is an established industrial town just west of Chicago and near O’Hare International Airport. It is primarily known as an industrial and manufacturing hub with a predominantly blue-collar workforce. Bensenville’s largest employers include US Foods, UPS and Rubicon. It’s proximity to the airport and being only 15 miles away from downtown Chicago, make it an easily accessible location. 

Due Diligence

Documents
Citipoint conducts a thorough document review on every property. For access to more documents such as leases, inspection reports, warranties, etc please fill out our Document Request Form.

Rents, expirations, security deposits, balances and more.

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Utility expense, services, insurance, taxes, and more.

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Who pays what - Landlord Vs. Tenant

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Comparable multi family properties that have sold in the area.

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Comparable multi family units that have been rented in the area.

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Market report showing trends and insights.

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Locked.

Property
Financials

Purchase Price of Property


Property Current
This column shows the current financial state of the subject property. These inputs are factual and they are based on verified information.



Year 2 Pro Forma
This column is based on a stabilized condition of the subject property. These inputs assume proper property performance by using our investment suggestions (proper management, bringing rents up to market rate, vacancy absorption, etc).



Debt Service
This column allows the user to add custom financing scenarios.

Property
Performance

View the return metrics based on various inputs. 

"Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs. 


 

Key
Metrics

Year by Year Property Data
 

Property Value

Remaining Loan Balance

LTV Ratio

Debt Service Coverage Ratio

 

Cumulative Net Cash Flow

Total Equity (Includes Net Cash Flows)

ROI

Annualized ROI

Equity Multiple 



 

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