Midwest 6 Unit Multifamily Building
14123 School St. Riverdale, IL 60827
$50,000 Per Unit
** Buyer's Premium Waived
In Place NOI
Target CAP Rate
Today's Market Value
Target Purchase Price
Market CAP Rate
Value w/Market Rents
Cost Per Unit
Purchase at target price with 20% down payment. Upon purchase raise rents to appropriate levels. 1 Bed market rents are well over $800 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
Elegant 6-unit brick building in Riverdale, IL at a fantastic cap rate and price per unit. The property is made up of (2) 2-bedrooms and (4) 1-bedroom units, each with it’s own private, recessed balcony. Expenses are generally lower across the board with tenants paying for electricity and heating. The units are in good condition with brand new windows throughout. 6 parking spaces in the rear. Rents are well below market rate, allowing for an investor to come in and increase the revenue and bottom line of the investment.
About The Neighborhood
Riverdale is a small suburb bordering Chicago. Incorporated in 1892, it has a population of 10,500 and is 18 miles directly south of downtown Chicago, just west of the Illinois-Indiana border. It is known for its numerous parks, the Riverdale Public Library and, most notably, the Joe Louis Championship Golf Course.
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Who pays what - Landlord Vs. Tenant
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Purchase Price of Property
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Year 2 Pro Forma
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Year by Year Property Data
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Cumulative Net Cash Flow
Total Equity (Includes Net Cash Flows)
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