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Property

Midwest 24 Unit Multifamily Portfolio

 Call For Address and Location Details

$2,100,000

Pricing/Terms Explained 

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$75,000 Per Unit

** Buyer's Premium Waived

11
Beds

6
Baths

7,000
Sq. Ft.

1963
Yr. Built

100%
Occupancy

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6
Spaces

3
Stories

Boiler
Heat

Paid
Laundry

Street
View

Contract Copy
 

Buyer's Agreement
 

Property Summary

Type

Multifamily

In Place NOI
$32,100

Target CAP Rate
7.2%

Today's Market Value
$472,000

Target Purchase Price
$450,000

 



Units
6

Projected NOI
$50,100

Market CAP Rate
6.8%

Value w/Market Rents
$736,000

Cost Per Unit
$75,000

Investment Strategy
Purchase at target price with 25% down payment. Upon purchase raise rents to appropriate levels. 2 Bed market rents are well over $1,000 in the area. Current seller has been slow and inefficient on rental increases. Refinance and pull cash out based on higher value of the property. 

About The Property
An exceptional brown brick building located across the street from new construction, parks, and golf courses. The building features spacious two-bedroom apartments. The building is 3 stories with laundry on each floor. All tenants are separately metered for gas and electric. Owner is responsible for common areas.

About The Neighborhood
Blue Island is a C+ Neighborhood that borders Chicago. Demand for multi family real estate is high is in this area due to a relatively affordable price per unit acquisition opportunity. The rental market is strong with high demand and low inventory. 

Blue Island borders two major highways (294 and 55) making it an ideal location for commerce and business. This provides for stable employment opportunities for residents and new tenants.

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.

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Utility expense, services, insurance, taxes, and more.

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Who pays what - Landlord Vs. Tenant

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Comparable multi family properties that have sold in the area.

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Comparable multi family units that have been rented in the area.

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Market report showing trends and insights.

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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 



 

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