chicago-turnkey-rental-triplexYes: we are back to Chicago again. We just can’t get enough of these delicious deep-dish pies and, of course, these incredible deals.

For the real estate investor who is all about turnkeys that really deliver true value, Chicago – and especially today’s TRIPLEX, are just that.

First things first, why invest in the beautiful city of Chicago? Let us count the ways (or, anyway, at least a few of them)….

Chicago, as you know, is a major metropolis: it’s Illinois’s largest city by far. It’s centrally located – and if you ever wanted to check on your property, it’s easy to fly in and out of O’Hare airport. The city is flooded with culture, art and beautiful architecture – along with a steady stream of new transplants and students (aka renters).

Bottom line? Investing in Chicago is super hip and pitches you amazing ROI’s – which is why we love Chi-town.

PS: this triplex actually comes with a one year scope of work warranty (just another reason to fall in love, right?)

Location: Chicago, IL.

Built In: 1911 (fully redeveloped and waiting for your tenants to enjoy)

Purchase price: $265,000 (not a foreclosure, normal sale)

Property info: 10 bedrooms, 3 bathrooms, 2,838  square feet and a 2 car garage!

Income

Monthly rent collected: $3,400

Expenses

Monthly expenses

Property taxes: $204

Insurance: $163

Property management fees: $200

Landscaping: $80

Owner-Paid Utilities: $100

Monthly expenses (conservatively estimated)

Vacancy (7%): $238

Repairs (5%): $170

Total Monthly Expenses- $1,154

Net Income = Income – Expenses = $2,246 !!!! 

Advanced Numbers

Cap Rate = 10.17

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

Cash-on-cash return =

Depends on your leveraging.

Special Terms

  • 1 Year Scope of Work Warranty

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
  • Ian Hintze
    Reply

    Hi ali does this currently have renters in it

    • Ali
      Reply

      It likely doesn’t just yet Ian but it will before anyone closes on it. These Chicago properties are always still under construction when they go under contract (they move fast) so the tenants aren’t in yet but it’s a contingency in the contract that they have to be before you sign for it.

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