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Property

6 Unit in A+ Suburb

10466 Carol Ct. Rosemont, IL 60018

$680,000

Pricing/Terms Explained 

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$113,333 Per Unit

** Inclusive of Buyer's Premium

9
Beds

6
Baths

-
Sq. Ft.

1964
Yr. Built

100%
Occupancy

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6
Spaces

3
Stories

Boiler
Heat

Paid
Laundry

Street
View

Contract Copy
 

Buyer's Agreement
 

Property Summary

Type

Multifamily

In Place NOI
$33,142

Target CAP Rate
4.87%

Today's Market Value
$736,488

Target Purchase Price
$680,000

 



Units
6

Projected NOI
$63,915

Market CAP Rate
4.5%

Value w/Market Rents
$1,420,345

Cost Per Unit
$113,333

Investment Strategy
Purchase at target price with 25% down payment. Upon purchase rent out 6th unit and raise rents to appropriate levels. 2 Bed market rents are $1,400 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
Rare opportunity to own an apartment building in the booming village of Rosemont. This 6-unit brick building includes (3) 2-beds and (3) 1-bedroom units and is just steps away from Allstate Arena. Nestled in a large apartment complex, the property is flanked by 10 parking spaces which can be leased out. The building is in excellent condition with a newer roof and solid brick exterior. The current owner has not raised rents in a while, allowing for a new investor to come in and create some serious value in an extremely sought after neighborhood.

About The Neighborhood
Rosemont, IL is a town bordering O'Hare International Airport, directly northwest of Chicago. Despite being relatively small in land area and population (4,200 residents), Rosemont is a major commercial hub in the region with nearly 50 restaurants, 15 hotels and millions of square feet of office space. It is also home to the 16,000 seat Allstate Arena, the 840,000 SF Donald E. Stephens Convention Center and borders River's Casino. Corporations headquartered in Rosemont include US Foods, Riddell, Reyes Holdings, Haribo of America and the Big Ten Conference.

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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