3934 EVERGREEN 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 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.
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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