1017-1021 W COLUMBUS DR. EAST CHICAGO, IN
Target CAP Rate
Today's Market Value
Target Purchase Price
Market CAP Rate
Value w/Market Rents
Cost Per Unit
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.
Purchase at target price with 25% down payment. Upon lease expirations, raise rents to market rate. Refinance and pull cash out based on higher value of the property.
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