- List Price $9,500,000
- Price / Unit $90,476
- Property Type Multifamily
- Units 105
- Current Rents $1,221,060
- Pro Forma Rents $1,446,600
- In Place NOI $754,483
- Projected NOI $968,746
- Target CAP Rate 7.94%
- Market CAP Rate 6.5%
- Today's Market Value $11,600,000
- Value w/Market Rents $14,900,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 246
- 105
- -
- -
- 100%
- 130
- 2
- Varies
- Varies
- Common, Paid
246
105
-
- -
- 100%
- 246
- 2
- Varies
- Varies
- Common, Paid
About the property
Spread across two city blocks and encompassing 14 individual buildings, this remarkable property comprises a total of 105 units. Centrally located in DeKalb, it seamlessly fuses historic charm with modern convenience. Notably, its close proximity to Northern Illinois University establishes a steady demand for rentals, making this a prime investment prospect. Moreover, with current rents below market standards, the property presents a promising value-add opportunity. By strategically renovating and enhancing units, there exists the potential to raise rents while providing residents with updated living spaces. The condition of all units are similar and consistent with photos listed. 97 of 105 units have individual laundry units. This blend of historical ambiance, convenient urban living, and the prospect of maximizing returns makes this investment an intriguing choice for those seeking both financial growth and the chance to contribute to DeKalb’s thriving community.
About the neighbourhood
- Embrace the epitome of modern living in DeKalb, Illinois, where small-town charm meets contemporary convenience. Positioned for excellence, this 105-unit property rests at the heart of a city enriched by its history, propelled by its educational prominence as home to Northern Illinois University, and embraced by a close-knit community that thrives on cultural events and recreational pursuits. Seamless connectivity, a tapestry of local amenities including diverse dining and shopping options, and the allure of nearby natural wonders make this property an irresistible investment. With a finger on the pulse of DeKalb's economic stability, educational magnetism, and vibrant spirit, seize the opportunity to partake in both a flourishing real estate endeavor and the essence of a dynamic Midwestern lifestyle.
Municipality - Investor Guide
Dekalb
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N/A | Cost: - | Required: No | Required: NO |
| Seller: N/A | Cost: - | Cost: $0 | Cost: $0 |
| Notes | |||
| Final water read needs to be ordered and balance paid prior to closing. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
View current and future return metrics based on customizable 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.
Property Current
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Year 2 Pro Forma
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Debt Service
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Mortgage Calculator
- Down Payment
- Loan Amount
- Monthly Mortgage Payment
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Utility Table
Total Yearly Utitlity Cost: $78,653.00
*This Utility Table does not include snow removal or lawn care costs, if any. For more details on snow/lawn expenses, see the "Expenses" attachment located under the "Property Documents" section.
Property Taxes
Currently No Tax data found for this property. Please Check back later.
Walkscore
Nearby
- Arts & Entertainment
-
Varsity Square Apartments (0.18 mi)
-
New Hope Missionary Baptist Church (0.49 mi)
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Campus Recreation Center (0.69 mi)
- Education
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Dekalb University Development (0.3 mi)
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Hanlon Child Care (0.78 mi)
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Immanuel Lutheran Church & Student Center (0.75 mi)
- Food
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Casey's (0.36 mi)
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Big O's Barbecue (0.37 mi)
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Jimmy John's (0.38 mi)
- Health & Medical
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McCoy James W DC (0.44 mi)
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Sauk Medical Clinic (0.46 mi)
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Campus Recreation Center (0.69 mi)
Contact Information
- List Price $9,500,000
- Property Type Multifamily
- Current Rents $1,221,060
- In Place NOI $754,483
- Target CAP Rate 7.94%
- Today's Market Value $11,600,000
- Price / Unit $90,476
- Units 105
- Pro Forma Rents $1,446,600
- Projected NOI $968,746
- Market CAP Rate 6.5%
- Value w/Market Rents $14,900,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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