Citi%20Black_edited_edited.png

Property

HOT 28 Unit Located in Grade A Suburb

4309 W 95th Ave. Oak Lawn, IL 60453

$2,900,000

Pricing/Terms Explained 

Icon.png

$103,500 Per Unit

** Buyer's Premium Waived

32
Beds

28
Baths

26,000
Sq. Ft.

1964
Yr. Built

100%
Occupancy

Details Web Sheet.png

28
Spaces

2
Stories

Forced Air

Paid
Laundry

Street
View

Contract Copy
 

Buyer's Agreement
 

Property Summary

Type

Multifamily

In Place NOI
$208,537

Target CAP Rate
7.2%

Today's Market Value
$4,170,740

Target Purchase Price
$2,900,000

 



Units
28

Projected NOI
$320,890

Market CAP Rate
5%

Value w/Market Rents
$6, 417, 802

Cost Per Unit
$103,500

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
Highly desired 28-unit courtyard apartment complex right in downtown Oak Lawn. This well-maintained property features (24) 1-beds and (4) 2-bedroom units across three levels. Located just 700-feet down the road from the Advocate teaching hospital and a quarter mile from the Oak Lawn Athletic Complex, the building is in a highly visible and desirable area for renters. The units are currently well below market rent, allowing a new owner to come in and lift rents to market rate which would increase the NOI by over $100,000 per year. Rare opportunity to buy a very stable asset in a thriving area with huge upside potential.

About The Neighborhood
Oak Lawn is a vibrant, mid-sized town bordering the City of Chicago, 13 miles southwest of downtown Chicago. In 2002, Oak Lawn went under a massive redevelopment with multistory high-end condominium complexes being built in the downtown area as well as an expansion of the Metra Commuter Rail Station. Today, Oak Lawn is littered with modern mid-rises, shopping malls and 300 acres of parks and recreational facilities. It is propped up by the Advocate Christ Medical Center, a teaching hospital with 400 resident doctors, 600 med students and 800 nursing students. 

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. 


 

Key
Metrics

Year by Year Property Data
 

Property Value

Remaining Loan Balance

LTV Ratio

Debt Service Coverage Ratio

 

Cumulative Net Cash Flow

Total Equity (Includes Net Cash Flows)

ROI

Annualized ROI

Equity Multiple 



 

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