3826 BUTTERNUT ST. EAST CHICAGO IN 46312
Target CAP Rate
Today's Market Value
Target Purchase Price
Market CAP Rate
Value w/Market Rents
Cost Per Unit
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.
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.
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