15% Net Cap Rate 6-unit in Chicago Land - $34,186 Net Cash Flow!

[Fernando Angelucci]

Hello BP Family,

Just got this gem under contract on the 700's block of Front Street in Aurora and am looking to wholesale it out. It is at 100% occupancy with no back due rent. Here are the 2015 actuals.

Historical Numbers

$53,040 Gross Rental Income ($4,420/mo)

$18,853 Expenses (Electric, Garbage, Water, Heat, Taxes, Insurance, Maintenance)

$34,186 Net Cash Flow

$230,000 Purchase Price

15% Cap Rate

Unit Break Down

Unit 1 (1/1): $640/mo + Cooking gas + Electric

Unit 2 (1/1): $670/mo + Cooking gas

Unit 3 (1/1): $700/mo + Cooking gas

Unit 4 (1/1): $700/mo + Cooking gas

Unit 5 (3/1): $1050/mo (no utilities)

Unit 6 (1/1): $660/mo + Electric

Mechanicals, Roof, and Siding

Shingle Roof - 2003

Siding - 2003

Furnace 1 (Unit 5) - 2011

Furnace 2 (Unit 6) - 2014

Furnace 3 (Units 1-4) - 2014

Hot Water Heater 1 (Units 5-6) - 2009

Hot Water Heater 2 (Unites 1-4) - 2015

Plumbing - 2014

Windows - 2014 (4 odd size windows are left to replace)

Parking Lot

12 car lot

Photos

https://www.dropbox.com/sh/9or0if950p18zg0/AACxmA1...