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Property
A+ Suburb, 9 Unit Multifamily Building
1165 N Boxwood Dr. Mount Prospect, IL 60056
$1,100,000
Pricing/Terms Explained
$122,222 Per Unit
** Buyer's Premium Waived
8
Beds
9
Baths
-
Sq. Ft.
1972
Yr. Built
100%
Occupancy
9
Spaces
3
Stories
Boiler
Heat
Paid
Laundry
Street
View
Property Summary
Type
Multifamily
In Place NOI
$63,000
Target CAP Rate
6%
Today's Market Value
$1,402,000
Target Purchase Price
$1,000,000
Units
9
Projected NOI
$83,100
Market CAP Rate
4%
Value w/Market Rents
$1,848,000
Cost Per Unit
$122,222
Investment Strategy
Purchase at target price with 20% down payment. Upon lease expirations, raise rents to market rate. Refinance and pull cash out based on higher value of the property.
About The Property
Stellar 9-unit brick building in the affluent and family-friendly community of Mt. Prospect. The property consists of (2) studios, (6) 1-beds and (2) 2-beds which are all under market rents allowing the investor the opportunity to raise rents and capitalize on forced appreciation. These units are in excellent rental condition and have been meticulously maintained over the years. A coin operated laundry allows for additional revenue and ample parking rounds out this fantastic investment property.
About The Neighborhood
Incorporated in 1917, Mt Prospect is affluent community 20 miles northwest of downtown Chicago and just 4 miles north of O’Hare International Airport. It is home to nearly 57,000 residents with major employers Cummins Allison, Rauland-Borg and CVS Caremark propping up the local economy. The downtown area has been recently renovated and the city features over 400 acres of parks and recreational facilities. It is home to multiple award winning school districts and was rated by Business Week in 2009 as “the best place to raise kids”.
Due Diligence
Documents
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Who pays what - Landlord Vs. Tenant
Locked.
Property
Financials
Purchase Price of Property
Property Current
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Year 2 Pro Forma
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Debt Service
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Property
Performance
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"Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
Key
Metrics
Year by Year Property Data
Property Value
Remaining Loan Balance
LTV Ratio
Debt Service Coverage Ratio
Cumulative Net Cash Flow
Total Equity (Includes Net Cash Flows)
ROI
Annualized ROI
Equity Multiple
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