- List Price $475,000
- Price / Unit $79,166
- Property Type Multifamily
- Units 6
- Current Rents $60,600
- Pro Forma Rents $92,490
- In Place NOI $33,725
- Projected NOI $65,167
- Target CAP Rate 7.1%
- Market CAP Rate 6.8%
- Today's Market Value $510,000
- Value w/Market Rents $949,000
*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.
- 11
- 6
- 5416
- 1964
- 100%
- 11
- 3
- Boiler Heat
- Window Units
11
6
5416
- 1964
- 100%
- 11
- 3
- Boiler Heat
- Boiler Heat
About the property
Introducing an excellent investment opportunity in Blue Island, IL. Built to high standards, the building consists of six spacious and fully-occupied units, five featuring 2 bedrooms and 1 bathroom and one featuring 1 bedroom and 1 bathroom. The property also offers on-site parking for tenants, newer windows, separately metered heating, all adding to its appeal. With a strong rental history, this property offers a stable and attractive cash flow for investors. In addition, the property is situated in a thriving rental market with a low vacancy rate, ensuring consistent demand for years to come.
About the neighbourhood
- Blue Island is a town of 22,500 in southern Cook County, Illinois. It has traditionally been an industrial hub serving Chicago since the late 1800’s but presently has a more diverse economy. It is situated 15 miles south of the Chicago Loop and 8 miles south of Midway International Airport. Moraine Valley Community College has a campus in Blue Island and Dwight D Eisenhower High School serves as the main secondary education institution for the town. Blue Island is home to the well-known Meadows Golf Club.
Property Documents
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Walkscore
Nearby
- Arts & Entertainment
-
Franklin Framing (1.6 mi)
-
House of Liquid Mercury - Talent Group (0.42 mi)
-
Three Sisters Antique Mall (0.43 mi)
- Education
-
Lincoln School (0.4 mi)
-
Cannella School Of Hair Design (0.43 mi)
-
House of Liquid Mercury - Talent Group (0.42 mi)
- Food
-
Taqueria Eden y - Alex Pizza (0.08 mi)
-
Fruteria El Eden (0.08 mi)
-
Danny's Market Place (0.12 mi)
- Health & Medical
-
David Beckmann, MD (0.37 mi)
-
Pronger Smith Medical Care (0.39 mi)
-
Duly Health & Care (0.38 mi)
Contact Information
- List Price $475,000
- Property Type Multifamily
- Current Rents $60,600
- In Place NOI $33,725
- Target CAP Rate 7.1%
- Today's Market Value $510,000
- Price / Unit $79,166
- Units 6
- Pro Forma Rents $92,490
- Projected NOI $65,167
- Market CAP Rate 6.8%
- Value w/Market Rents $949,000
*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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