buy a fourplex in chicagoThis is an insider’s deal only – and we are happy to bring it to you! As you know, we love multi-families- and today’s Chi-town property comes with all the bells and whistles (four apartments equals four times the rent with only one property to manage). As a Hipster reader/member, we love giving you exclusive deals like today’s. It’s in Chicago – not in a war zone by any means, it’s fully renovated and ready to rent. After your monthly expenses are taken into consideration, you’d be enjoying $2,912 in cash-flow each month. Wow, right? You collect the checks, hassle-free, while your property manager takes care of the rest. Ah…..Enjoy the view from the top….

For the savvy investor, this is – without a doubt – a steal. It’s guaranteed monthly income you can count on. Chicago has tenants, colleges, employers, and a constant flow of steady income for your constant flow of cash-flow. Does all this sound too good to be true? Maybe – but it’s fact. Our Chicago deals can take a while to complete to get everything done perfectly – but, obviously, the wait is well worth the time investment. Check out the details.

Location: Chicago, IL. Fourplex

Built In: 1898 Historical (fully redeveloped)

Purchase price: $355,000 (not a foreclosure, normal sale)

Property info: 12 bedrooms, 4 bathrooms, 4,242 square feet (total for all 4 units)

Income

Monthly rent collected: $4,400

Expenses

Monthly expenses

Property taxes: $336

Insurance: $163

Property management fees: $352

Landscaping: $80

Owner Paid Utilities: $0

Monthly expenses (conservatively estimated)

Vacancy (7%): $308

Repairs (5%): $220

Total Monthly Expenses- $1,489

Net Income = Income – Expenses = $2,912

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 9.84%

Cash-on-cash return =

Depends on your leveraging.

If you are interested in this property or seeing others like it, contact Ali at ali@hipsterinvestments.com. Take the plunge: you won’t regret it!

 

 

 

Comments
  • Katherine
    Reply

    Hi Ali,

    I’m guessing the price is $355,000 not $355,00. I can’t purchase this property now, but I like the 3 bd in each unit. That’s pretty rare. I’ll keep checking your website for more properties.

    Katherine

    • Ali
      Reply

      Good catch Katherine! It’s been fixed. Thanks for the heads up. As far as properties, the best way to see more properties is to reach out on the Contact form and we can give you live listings there. We post very few of the actual properties available on the website, so if you reach out we can give you access to everything we have.

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