WOW 4 UNITS GREAT CONDITION 71 PERCENT CASH ON CASH RETURNThis is a 3 unit with 2 bedrooms each unit, and 1 store front, Completely remodeled 2 years ago. Repairs needed, concrete needs leveling in the backyard.2 units are currently occupied Separate utilities tenants pay gas and electric.Store Front is vacant. Was a barber shop/saloon. Also there used to be a basement unit that was flooded, it is now completely gutted. You can also make 4rth unit.Asking for 15,000 down payment. You will be taking over an existing loan on a Agreement for Sale or Land Contract.1,300 per month which includes taxes and insurance. You will not be taking over any other liens.Income Potential after Section 81st unit 9502nd unit 9503rd unit 950Complet Basement 800 per monthStore Front 1000Total Rental Income potential after Section 8 and basement unit is done. 4650 per month.The numbers:Purchase Price $15,000Closing Costs $2,000Fix up $20,000 (complete basement, Fix Roof, Repair drywall damage, Fix concrete backyard)Rental Income 4,650 per month= $55,800Minus Costs (taxes insurance, utilities, property management, Mortgage) 1,800 per month= $23400 per year. Vacancy and Repairs (15 percent of Rent) = $8,370 per year.Net Operating Income 24,000 per yearCash on cash Return 71 percent WOWRepairs:Compelte Basment (electric, plumbing, Drywall, Kitchen, Bathroom, Flooring) $15,000Roof Repairs $1,500Repair water damage drywall $500Concrete level back yard. $3,000Total Cost of Repairs: $20,000Comparables:4024 W 25th Place Chicago IL sold 8/2013 $150,0003758 W Cermak Chicago IL sold 12/2013 $135,000.1839 S Harding Chicago IL sold 12/2013 $125,000Estimated after repair value $136,500Earnest money required 2,000. non refundableProof of funds required for viewing.Please due your own due diligence.Do you know someone that would buy this deal please forward this email we do compensate for referrals!For more great wholesale properties go to Check out inventory and join our buyers list. The best deals never hit our site.
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