Property
West Suburb HOT 12 Unit
728-730 Bellwood Ave. Bellwood, IL 60104
$1,100,000
Pricing/Terms Explained
$91,666 Per Unit
** Inclusive of Buyer's Premium
24
Beds
12
Baths
10,500
Sq. Ft.
1961
Yr. Built
100%
Occupancy
12
Spaces
3
Stories
Boiler
Heat
Paid
Laundry
Street
View
Contract Copy
Buyer's Agreement
Property Summary
Type
Multifamily
In Place NOI
$84,400
Target CAP Rate
7.7%
Today's Market Value
$1,298,700
Target Purchase Price
$1,100,000
Units
12
Projected NOI
$120,800
Market CAP Rate
6.5%
Value w/Market Rents
$1,858,600
Cost Per Unit
$91,666
Investment Strategy
Purchase at target price with 25% down payment. Upon purchase raise rents to appropriate levels. 2 Bed market rents are well over $1,200 in the area. Current seller has been very slow and inefficient on rental increases. Refinance and pull cash out based on higher value of the property.
About The Property
Two all brick buildings with twelve 2-bedroom apartments. Property has been well maintained as in good condition. Current rents are below market allowing the buyer to capitalize on a much higher NOI and subsequent higher value. Paid laundry allows for additional revenue.
About The Neighborhood
Bellwood is a small suburb 13 miles west of downtown Chicago. Originally settled by German immigrants, it is now a mostly residential town with approximately 18,000 residents. It is served by the Metra which goes directly to the Chicago loop making it an attractive option for commuters. Eugene Cernan, famously the last person to walk on the moon, grew up in Bellwood. It is located 5 miles directly south of O’Hare International Airport and neighbors high demand industrial areas due to its proximity to the airport.
Due Diligence
Documents
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Rents, expirations, security deposits, balances and more.
Utility expense, services, insurance, taxes, and more.
Who pays what - Landlord Vs. Tenant
Comparable multi family properties that have sold in the area.
Comparable multi family units that have been rented in the area.
Market report showing trends and insights.
Property
Financials
Purchase Price of Property
Property Current
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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
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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
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