Midwest 6 Unit Multifamily Building
12430 Fairview Ave Blue Island IL 60406
$75,000 Per Unit
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 $1,000 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.
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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.
Purchase Price of Property
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).
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"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.
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