This 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)
Monthly rent collected: $4,400
Property taxes: $336
Property management fees: $352
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
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 email@example.com. Take the plunge: you won’t regret it!