723 N. CENTRAL
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
| Multi-Residential - Current Operating Returns | |
|---|---|
| Property Address | 723 N CENTRAL |
| Price | $1,090,000 |
| Units | 28 |
| Description | |
| REDUCED !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! This investment consists of a brick corridor 28 unit apartment building , with 8 two-br units and 20 one-br units. More than half of the apartments have been renovated with new kitchen, baths, electrical and hardwood floors. The building also has new windows. This property allows an investor the opportunity to acquire a very well maintained building in one of the most appreciating areas in Chicago. This investment provides an owner with the opportunity to raise rents in order to attain a higher cash return. | |
| Summary - Operating Information | |
| Price | $1,090,000 |
| Down Payment | 20% $270,000 |
| Number of Units | 28 |
| Price Per Unit | $48,214 |
| Gross Rent Multiple | 7.52 |
| Capitalization Rate | 8.29% |
| Approximate Age | 1923 |
| Approximate Square Feet | |
| Price Per SF | |
| Approximate Net SF | 17,000 |
| Price Per Net SF | $79.41 |
| Total Expenses Per Unit | $3.44 |
| Annualized Operating Data | |
| Scheduled Gross Income | $179,424 |
| Vacancy | 5% $8,971 |
| Gross Operating Income | $170,453 |
| Expenses | |
| Real Estate Taxes | $14,347 |
| Insurance | $7,519 |
| Other Expenses | $36,630 |
| Total Expenses | 34.32% $58,496 |
| Net Operating Income | $111,957 |
| Loan Payments | $85,493 |
| Pre-Tax Cash Flow* | 9.80% $26,464 |
| Principle Reduction | $18,518 |
| Total Return Before Taxes | 16.66% $44,981 |
| Financing | |
| Interest Rate | 6.25% |
| Type of Loan | Fixed |
| Amortization | 25 |
| Term | 5 |
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.