Calumet City 6-Unit Huge Equity

[Fernando Angelucci]

We have available for immediate assignment a brick 6-unit in Calumet City, IL.

5 Warren St., Calumet City, IL 60409

$145,000.00

Six (6) Two Bedroom, 1 Bath Units with 2 Partially Built Out Garden Units (Potential for 8 Units Total)

Monthly Rent: $850 per unit ($5100 total with the 6 units; more if bonus units are built out)

Property Taxes: $22,661.44 (have not been contest and could be dramatically lowered)

Estimated As-Is Market Value: $225,000

Details: Five out of six units are occupied and by long term tenants that help care for the building. All units are on month to month leases to allow for flexibility of the new owner. The two garden units are a studio and a 1 bedroom, and are partially built out already. They just need city approval and cleaning/light rehab. The building has a 1 year old boiler and hot water tank. The roof, tuck pointing, and windows have been done within the past 5 years. The units need minimal updating and have hardwood floor underneath the carpet. Seller pays water and heat; the tenants pay electricity and cooking gas. There are 5 manually opened garages with two extra parking spaces on the side of the garage and one in the front of the building.

PHOTOS AND VIDEO WALKTHROUGH: https://www.dropbox.com/sh/hsz7ng7tq2algmy/AACWRuM9Be6oiz5W_4-SgSTEa?dl=0

MLS SOLD COMPARABLES: https://www.dropbox.com/s/jzooyqiiy9z6llq/MLS%20Sold%20Comparables%20for%205%20Warren%20St.%2C%20Calumet%20City%2C%20IL%2060409%20.pdf?dl=0

Private showings will be conducted upon request. The deal goes to the first person to sign the purchase agreement and remit $5,000 earnest money. If you are a wholesaler and are interested in marketing this deal, you must obtain our permission first. If you have any questions or interest in moving forward, please do not hesitate to reach out as this one will not last long!