Citi%20Black_edited_edited.png

PropertyRADAR

Northwest Indiana 6 Unit Building

 3826 Butternut St. East Chicago IN 46312

$320,000

Pricing/Terms Explained 

Info.png

$53,333 Per Unit

Submit Bid
 

Property Summary


Type

Multifamily

In Place NOI
$29,500

Target CAP Rate
9.2%

Today's Market Value
$472,000

Target Purchase Price
$320,000



 




Units
6

Projected NOI
$50,500

Market CAP Rate
6.8%

Value w/Market Rents
$743,000

Cost Per Unit
$53,333



 

Icons Lines.png

14
Beds

6
Baths

5,544
Sq. Ft.

1918
Yr. Built

100%
Occupancy

Investment Strategy
Purchase at target price with 25% 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
A fully occupied 6-unit apartment building in East Chicago. Owner has maintained the property meticulously over the past 30-years. It is currently rented severely below market. This property provides an exceptional opportunity to raise rents and cash-out refinance in a short time. Take advantage of Indiana's low property taxes and favorable eviction laws. 

About The Neighborhood
East Chicago sits over the Illinois-Indiana border. The City is investing huge amounts of money into improving the downtown area - which is propped up by the AmeriStar Casino. Next door, the brand new Hard Rock Casino is bringing jobs and revenue to the area. 

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.

door.png

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

Expenses.png

Who pays what - Landlord Vs. Tenant

Utilities.png

Comparable multi family properties that have sold in the area.

House.png

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

House.png

Market report showing trends and insights.

Market Report.png
Lock.png

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. 


 

arrow&v

Questions for Citipoint?
 

arrow&v

Thanks for submitting!

Citi%20Black_edited_edited.png

Learn how Citipoint can scale your real estate business.
 

Deal Flow - Learn how we source properties.

Management - Competitive rates and unparalleled service.

Value Add - Assistance with Lease Up, Construction, and Accelerated Appreciation.

Financing - Direct access to preferred lenders for Acquisition and Refinance options. 

Citi%20Black_edited.png

Privacy Policy    I    Terms of Service    I    Members



 

Copyright.png

2021, by Citipoint



 

Contact Us      |      About      |      Resources      |      Tools      |      Leasing    |    Property Mgmt



 

Insta.png
fb.png