West Suburb HOT 12 Unit
728-730 Bellwood Ave. Bellwood, IL 60104
$91,666 Per Unit
** Inclusive of Buyer's Premium
In Place NOI
Target CAP Rate
Today's Market Value
Target Purchase Price
Market CAP Rate
Value w/Market Rents
Cost Per Unit
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.
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Purchase Price of Property
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Year 2 Pro Forma
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Year by Year Property Data
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