HANDYMAN SPECIAL!
*** ********* ***, ********, IL
17.51% return
SP:
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Property Description

AWESOME 16 UNIT COMPLEX!!! 

Brand new roof. Nice units, will rent $525 per unit. Cosmetic repairs are needed. Separate electric meters. City water and sewer. Beautiful curb appeal. Property will generate a 17%+ NET RETURN on investment!!! $160k VALUE ADD!!! Amazing location!! Couple of minutes away from a university, hospital and downtown!! Do not miss out on this one.

Management and financing is available. 

Property Information

  • Listing statusPending
  • Property typeMulti Family
  • Total units16
  • Total bedrooms16
  • Total bathrooms16
  • Building size8400 sq. ft.
  • Lot size0.4 acres
  • Year built(unknown)
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick/Frame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingElectric Base Board
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $320,000
  • Estimated rehab 1 $80,000
  • Total investment $400,000
  • Type Proforma
  • After repair value $560,000
  • Potential profit $160,000
  • Gross income (annually) $100,800
  • Operating expenses (annually) $30,779
  • Net income (annually) $70,021
  • Gross return 25.20%
  • Gross income (monthly) $8,400
  • Operating expenses (monthly) $2,565
  • Net income (monthly) $5,835
  • Net return 17.51%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $525/month $6,300/year
  • Unit 2: 1 bed / 1 bath $525/month $6,300/year
  • Unit 3: 1 bed / 1 bath $525/month $6,300/year
  • Unit 4: 1 bed / 1 bath $525/month $6,300/year
  • Unit 5: 1 bed / 1 bath $525/month $6,300/year
  • Unit 6: 1 bed / 1 bath $525/month $6,300/year
  • Unit 7: 1 bed / 1 bath $525/month $6,300/year
  • Unit 8: 1 bed / 1 bath $525/month $6,300/year
  • Unit 9: 1 bed / 1 bath $525/month $6,300/year
  • Unit 10: 1 bed / 1 bath $525/month $6,300/year
  • Unit 11: 1 bed / 1 bath $525/month $6,300/year
  • Unit 12: 1 bed / 1 bath $525/month $6,300/year
  • Unit 13: 1 bed / 1 bath $525/month $6,300/year
  • Unit 14: 1 bed / 1 bath $525/month $6,300/year
  • Unit 15: 1 bed / 1 bath $525/month $6,300/year
  • Unit 16: 1 bed / 1 bath $525/month $6,300/year
  • Total $8,400/month $100,800/year
  • Expenses
  • Property Taxes $715/month $8,579/year
  • Insurance (estimated) $750/month $9,000/year
  • Water and Sewer $200/month $2,400/year
  • Waste Collection $300/month $3,600/year
  • Maintenance reserve $500/month $6,000/year
  • Lawn care $100/month $1,200/year
  • Total $2,565/month $30,779/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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