4 unit in Chicago - first deal

[Ryan Redenius]

Hey all - 

I'm looking at multi-families in Chicago for my first deal and went to view this 4 unit on Saturday: https://www.redfin.com/IL/Chicago/3500-W-Cullom-Av...

All units are 2 bedrooms and current gross rent is $40,140 annually.  The upside is the rents are below market value and there's an additional revenue opportunity with the parking spaces (they say there's 7, but it looks more like 4-5, realistically).  Based on properties in the area rent could be increased to bring in btw. $50,400-60,000 gross annually with some small cosmetic fixes.

I've attached some screen shots on the numbers below.  These assume the rents are raised.  Would really appreciate any feedback given that I'm new to this as I'm sure there are some things I'm not thinking of that I should be.

Thanks in advance!