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Property

A+ Suburb, 9 Unit Multifamily Building

1165 N Boxwood Dr. Mount Prospect, IL 60056

$1,100,000

Pricing/Terms Explained 

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$122,222 Per Unit

** Buyer's Premium Waived

8
Beds

9
Baths

-
Sq. Ft.

1972
Yr. Built

100%
Occupancy

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9
Spaces

3
Stories

Boiler
Heat

Paid
Laundry

Street
View

Contract Copy
 

Buyer's Agreement
 

Property Summary

Type

Multifamily

In Place NOI
$63,000

Target CAP Rate
6%

Today's Market Value
$1,402,000

Target Purchase Price
$1,000,000

 



Units
9

Projected NOI
$83,100

Market CAP Rate
4%

Value w/Market Rents
$1,848,000

Cost Per Unit
$122,222

Investment Strategy
Purchase at target price with 20% down payment. Upon lease expirations, raise rents to market rate. Refinance and pull cash out based on higher value of the property. 

About The Property
Stellar 9-unit brick building in the affluent and family-friendly community of Mt. Prospect. The property consists of (2) studios, (6) 1-beds and (2) 2-beds which are all under market rents allowing the investor the opportunity to raise rents and capitalize on forced appreciation. These units are in excellent rental condition and have been meticulously maintained over the years. A coin operated laundry allows for additional revenue and ample parking rounds out this fantastic investment property.

About The Neighborhood
Incorporated in 1917, Mt Prospect is affluent community 20 miles northwest of downtown Chicago and just 4 miles north of O’Hare International Airport. It is home to nearly 57,000 residents with major employers Cummins Allison, Rauland-Borg and CVS Caremark propping up the local economy. The downtown area has been recently renovated and the city features over 400 acres of parks and recreational facilities. It is home to multiple award winning school districts and was rated by Business Week in 2009 as “the best place to raise kids”. 

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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