Where in the world is Hipster landing today? Does deep dish pizza mean anything to you?
We’re back to Chicago with an incredible find: a triplex that has been fully redeveloped, comes with a one year scope of work warranty and spectacular cash flow for you. Simply put: buying a triplex rocks for true real estate investors. Why? You buy one property and get three streams of income. You only need to deal with one property manager – one set of bills – which means you can just relax and watch your bank account fill.
Why is Chicago a great market right now? It’s the 4th most economically powerful city in the world – which means jobs, colleges, hospitals (and lots of eager/qualified renters). 31 Fortune 500 companies are proud to call Chicago home; beyond that – so is the deep dish pizza 🙂 If you want true value for your investment dollars and an ROI that can’t be beat, this amazing triplex will make you, and your wallet, very happy.
Location: Chicago, IL.
Built In: 1930 (fully redeveloped)
Purchase price: $250,000 (not a foreclosure, normal sale)
Property info: 9 bedrooms, 6 bathrooms, 4,000 square feet and a 3 car garage!
Monthly rent collected: $3,300
Property taxes: $342
Property management fees: $264
Owner-Paid Utilities: $100
Monthly expenses (conservatively estimated)
Vacancy (7%): $231
Repairs (5%): $165
Total Monthly Expenses- $1,384
Net Income = Income – Expenses = $1,916 !!!!
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 9.20%
Cash-on-cash return =
Depends on your leveraging.
- 1 Year Scope of Work Warranty
If you are interested in this property or seeing others like it, contact Ali at firstname.lastname@example.org. Take the plunge: you won’t regret it!