Brick Unit for $35,000, Earn over $32,000/ year

[Account Closed]

Address: 12021 S Eggleston Ave, Chicago

County: Cook

Asking Price: $35,000.00

Type: Apartment Building

Beds: 8

Baths: 4

Sq. Ft.: 4,596 sq ft

Year Built: 1897

Basement: Unfinished

Lot Size: 6,150
Taxes: $2,610

Brick 4 unit in Pullman area of Chicago IL. Only $35000. Earn $32,000 pear year and a whooping 25 percent cash on cash return! This property has fire damage and needs a gut rehab. This was a highly performing rental property prior to fire last year. Each unit has 2 beds and 1 bathroom each unit is 1150 sq feet. Section 8 rental income was $4000 per month. 1000 for each unit.

Taxes $2610

Buy and Hold:

• Purchase price $35,000


• Rehab $100,000


• Operating expenses $10,213


• Vacancies/maintenance $5,203


• Gross Rental income $4,000 per month $48,000 per year


• Net cash $32,270 per year!


• Cash on cash return of 24.7 percent!


• Taxes: $2,610



Sold Comparables sold last 6 months within 1/2 mile, similar style/size properties

Click on comparable for more details of each one.



• 
  10725 S Calumet Ave, Chicago IL 60628 Sold for: $122,500 ($35/sf) (1.9 miles) sold 7/31/15


• 
  11221 S Champlain Ave, Chicago IL 60628 Sold for: $100,500 ($33/sf) (0.7 miles) sold 7/2/15


• 
  11443 S Champlain Ave, Chicago IL 60628 Sold for: $169,000 ($70/sf) (1.0 miles) sold 10/23/15




Estimated After Repair Value. $131,000

Act Fast this will be gone Fast. The first one with a signed contract and earnest money gets the deal.

Buyer pays ALL closing costs. Buyer will receive taxes prorated to 100 percent and free and clear title

Please due all your inspections and due diligence up front before contracting.