- $350,000
Contact agent
Description
Pursuant to short sale; subject to lender approval. 7-unit brick multifamily in Chicago Heights, offered at $350,000 ($50,000 per unit) well below fair market value. Unit mix is three 3BR/1BA, two 2BR/1BA and two 1BR/1BA. Four of seven units currently pay rent, totaling $5,150/month, a 7.14% cap rate on current collections. One unit is vacant and two are occupied but not currently paying. With all seven units leased at market rent ($9,300/month), pro forma NOI is $68,315, a 19.52% cap rate at list price. Each unit has its own gas forced-air furnace and gas meter, and tenants pay heat. Detached two-car garage on a separate PIN, concrete drive and fenced yard. Current annual tax bill is $9,619. Full offering memorandum with rent roll, financials and comps available on request.
- Commercial Sale
- 5000
- 1925
Property Documents
Property Overview
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Property ID 12802371
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Price $350,000
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Property Size 5000 Sqft
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Land Area 0.13 Acres
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Garage Size x x
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Year Built 1925
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Property Status Active
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Property Type Commercial Sale
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