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Midwest 10 Unit Multifamily

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Citipoint Property Radar

1021 w Columbus Ave East Chicago IN 46312

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22 Beds

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11 Baths

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12,000 Sq. Ft.

Pricing Explained

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($60,000 per unit)

$600,000

Type 

Multifamily

In-Place NOI

$49,694

Target CAP Rate

8.28%

Today's Market Value

$730,794

Target Purchase Price 

$600,000

Units

10

Projected NOI

$57,154

Market CAP Rate

6.8%

Value w/Market Rents

$840,500

Cost Per Unit

$60,000

About the Property

A well maintained 10-unit apartment building in East Chicago, IN - fully rented out. Right across the road from East Chicago Central High School. All tenants are currently up to date on rent through the pandemic. Rents are currently below market. Take advantage of Indiana's low property taxes and landlord favorable eviction laws. 

About the Neighborhood

East Chicago sits over the Illinois-Indiana border. The City is investing huge amounts of money into improving the downtown area - which is propped up by the AmeriStar Casino. The Hard Rock Casino is under construction a few hundred feet away from the property. This casino will bring jobs and revenue to the area.

Financials and Calculator

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