- List Price 1250000
- Price / Unit $104,167
- Property Type Multifamily
- Units 12
- Current Rents $156,876
- Pro Forma Rents $198,000
- In Place NOI $90,290
- Projected NOI $127,942
- Target CAP Rate 7.2%
- Market CAP Rate 6.8%
- Today's Market Value $1,350,000
- Value w/Market Rents $1,700,000
*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.
- 23
- 12
- 14000
- 1966
- 91%
- 23
- 3
- Varies
- Window Units
- Common, Paid
23
12
14000
- 1966
- 91%
- 23
- 3
- Varies
- Varies
- Common, Paid
About the property
The renovated 12-unit building in Alsip, Illinois, exudes modern elegance and convenience. The exterior showcases fresh tuck pointing, some new vinyl windows, and well-maintained landscaping. The interior consists of 7/12 units tastefully remodeled with contemporary finishes and fixtures. The kitchens boast sleek granite countertops, new appliances, and stylish cabinetry. Fresh carpeting and laminate floors provide a warm and inviting atmosphere. The updated kitchens and bathrooms call for top of the market rents. With added amenities like secure entry systems, onsite laundry, and parking, this renovated building offers residents a comfortable and attractive living space in Alsip on the border of Crestwood.
About the neighbourhood
- The neighborhood that the building is placed in is clean, quiet, and demands the highest rents in the city. The neighborhood is right on the border of Crestwood, just west of the canal. Experienced investors who buy in the south suburbs specifically choose this area of Alsip due to its proximity to Crestwood and its quiet/clean environment. The area demands higher rents and attracts quality tenants. Drive through the neighborhood to get a true feel for the present and future value of this asset.
Property Documents
Property Financials
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Walkscore
Nearby
- Arts & Entertainment
-
My Life Fitness (0.09 mi)
-
Moonlight Been (0.07 mi)
-
Firehouse Tattoos (0.32 mi)
- Education
-
Elim Christian Services (0.49 mi)
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Alan B Shepard High School (1.15 mi)
-
Sandbox Preschool (1.12 mi)
- Food
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Crestwood Liquor & Polish Deli (0.09 mi)
-
sakura japanese express (0.11 mi)
-
Old Town (0.09 mi)
- Health & Medical
-
Absolute Vision Care (0.06 mi)
-
Rejuvenated Soul (0.11 mi)
-
My Life Fitness (0.09 mi)
Contact Information
- List Price 1250000
- Property Type Multifamily
- Current Rents $156,876
- In Place NOI $90,290
- Target CAP Rate 7.2%
- Today's Market Value $1,350,000
- Price / Unit $104,167
- Units 12
- Pro Forma Rents $198,000
- Projected NOI $127,942
- Market CAP Rate 6.8%
- Value w/Market Rents $1,700,000
*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.
