21-UNIT - CHICAGO - 13%-CAP - $495,000

21-UNIT - CHICAGO - 13%-CAP - $495,000

 

 

Property Type: Multifamily

Status: Available

Address:

315-325 S. Kilpatrick Avenue
CHICAGO, IL  60411

Number of Acres: 0.3

Square feet: 13,000

Number of Units: 21

Number of Bedrooms: 25

Number of Bathrooms: 25

Sale or Lease: Sale

List Price: $495,000

CAP RATE  -   13%

 

GROSS RENT MULTIPLIER - 3.19

 

 

Offering Price: $495,000

 

Number of Units: 21

 

Price Per Unit: $23,571

Effective Gross Income: $131,835

Operating Expenses: $67,296

Real Estate Tax 2009: $16,986

NOI: $64,539

PROFORMA OPERATING STATEMENT

Unit # of Av. Rent Av.SF Monthly Annual
Type Units Month Total Total
2-Bedroom 4 $725 750 $2,900 $34,800
1-Bedroom 13 $619 600 $8,050 $96,600
Studio 4 $494 500 $1,975 $23,700
Total 21 $615 610 $12,925 $155,100
Monthly Annual
INCOME Total Total
Gross Rental Income $12,925 $155,100
15% Vacancy & Collecton ($1,939) ($23,265) (1)
Effective Gross Income $10,986 $131,835
EXPENSES
% of
Gross $/Unit Annual

Real Estate Taxes 10.95% $809 $16,986
Insurance 3.82% $282 $5,926
All Landlord Utilities 13.21% $976 $20,492
Decorating/Cleaning 3.38% $250 $5,250 (1)
Repairs/Maintenance 3.38% $250 $5,250 (1)
Janitorial 3.09% $25 $4,800 (1)
Advertising 0.97% $25 $1,500 (1)
Exterminating 0.32% $24 $500 (1)
Management 6.00% $314 $6,592 (1)
Total Expenses 45.14% $2,955 $67,296

Download now or preview on posterous

Clark_Park_Apts_4_page_Flyer_lowres.pdf (613 KB)

NET OPERATING INCOME: $64,539

 

 

Posted via email from a-blog-too-far's posterous