West Suburb 10 Unit Multifamily Building
1630 N 1st Ave. Melrose Park IL 60160
$85,000 Per Unit
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 $950 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
An exceptional California style brick building located across the street from Thatcher Woods. The building features spacious one-bedroom apartments. The building is a 2 story property. These California style properties are great investments due to low common area costs. All tenants are separately metered for gas and electric. Owner is responsible for common areas.
About The Neighborhood
Melrose Park is a B Grade neighborhood that borders Chicago. Demand for multi family real estate is high is in this area due to a relatively affordable price per unit acquisition opportunity. The rental market is strong with high demand and low inventory.
Melrose Park is close to O'Hare Airport and close to large commercial parks. It boomed post World War 1 and has been a dense commerce center hence. Demand for housing and rentals is strong in the area.
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Who pays what - Landlord Vs. Tenant
Comparable multi family properties that have sold in the area.
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Market report showing trends and insights.
Purchase Price of Property
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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).
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"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.
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