top of page
Property
HOT 28 Unit Located in Grade A Suburb
4309 W 95th Ave. Oak Lawn, IL 60453
$3,300,000
Pricing/Terms Explained
$117,800 Per Unit
** Buyer's Premium Waived
32
Beds
28
Baths
26,000
Sq. Ft.
1964
Yr. Built
100%
Occupancy
28
Spaces
2
Stories
Forced Air
Paid
Laundry
Street
View
Property Summary
Type
Multifamily
In Place NOI
$208,537
Target CAP Rate
6.3%
Today's Market Value
$4,170,740
Target Purchase Price
$3,300,000
Units
28
Projected NOI
$320,890
Market CAP Rate
5%
Value w/Market Rents
$6,417,802
Cost Per Unit
$117,800
Investment Strategy
Purchase at target price with 25% 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
Highly desired 28-unit courtyard apartment complex right in downtown Oak Lawn. This well-maintained property features (24) 1-beds and (4) 2-bedroom units across three levels. Located just 700-feet down the road from the Advocate teaching hospital and a quarter mile from the Oak Lawn Athletic Complex, the building is in a highly visible and desirable area for renters. The units are currently well below market rent, allowing a new owner to come in and lift rents to market rate which would increase the NOI by over $100,000 per year. Rare opportunity to buy a very stable asset in a thriving area with huge upside potential.
About The Neighborhood
Oak Lawn is a vibrant, mid-sized town bordering the City of Chicago, 13 miles southwest of downtown Chicago. In 2002, Oak Lawn went under a massive redevelopment with multistory high-end condominium complexes being built in the downtown area as well as an expansion of the Metra Commuter Rail Station. Today, Oak Lawn is littered with modern mid-rises, shopping malls and 300 acres of parks and recreational facilities. It is propped up by the Advocate Christ Medical Center, a teaching hospital with 400 resident doctors, 600 med students and 800 nursing students.
Due Diligence
Documents
Citipoint conducts a thorough document review on every property. For access to more documents such as leases, inspection reports, warranties, etc please fill out our Document Request Form.
Locked.
Property
Financials
Purchase Price of Property
Property Current
This column shows the current financial state of the subject property. These inputs are factual and they are based on verified information.
Year 2 Pro Forma
This column is based on a stabilized condition of the subject property. These inputs assume proper property performance by using our investment suggestions (proper management, bringing rents up to market rate, vacancy absorption, etc).
Debt Service
This column allows the user to add custom financing scenarios.
Property
Performance
View the return metrics based on various inputs.
"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
Learn how Citipoint can scale your real estate business.
Deal Flow - Learn how we source properties.
Management - Competitive rates and unparalleled service.
Value Add - Assistance with Lease Up, Construction, and Accelerated Appreciation.
Financing - Direct access to preferred lenders for Acquisition and Refinance options.
bottom of page