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3934 EVERGREEN ST. EAST CHICAGO IN 46312

Type

Multifamily

In-Place NOI

$24,245

Target CAP Rate

8%

Today's Market Value

$374.600

Target Purchase Price 

$320,000

Units

5

Projected NOI

$33,400

Market CAP Rate

6.8%

Value w/Market Rents

$491,000

Cost Per Unit

$64,000

1/6

About the Property

A beautifully maintained 5-unit apartment building in East Chicago, IN. Currently at full occupancy with (3) 3-bedrooms and (2) 2-bedrooms. 4 of the 5 units are well below market rent. One of the nicer rental buildings in the East Chicago market.

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.

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. 

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.

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