Stony Creek Multi-Family Portfolio

Transcription

1 Stony Creek Multi-Family Portfolio Property: S. Mayfield, Oak Lawn, IL (8 Units) S. Mayfield, Oak Lawn, IL (8 Units) Total Buildings: 18,735 Approx. SF Total Land Size: 0.59 Acres Purchase Price: $1,580,000 Price per Unit: $98,750 Blended Cap: 7.56% Gross Income: $180,180 Total Units: 16 4 Garages Expenses: $60,754 Unit Mix: 14-2 bed / 1 bath Net Income: $119, Bed / 1 Bath 1-4 Bed / 2 Bath & Bsmt Occupancy: 100% Demographics Snapshot: 0-1 Mil 1-2 Mile 2-3 Mile Pop.: 22,442 47,293 79,287 Avg. Inc.: $69,561 $72,811 $81,111 Offering Summary: A rare two building offering located at & S. Mayfield Ave., Oak Lawn, IL, in highly desired Stony Creek area consisting of two fully leased eight flat buildings with excellent unit mix and extremely easy to rent. A total of 14 two bedrooms / 1 one bedroom and 1 four bedroom unit with basement. Long term tenants with desire to stay and upside potential with approximately 40% of the units below market. Located within walking distance to Stony Creek Golf Course and City Of Oak Lawn Park district and schools (Ridge Lawn Elementary School, HL Richards High School Campus and much more (Dunkin' Donuts, 7-Eleven and 7-Eleven. Nearby restaurants include Chen's House, Upper Crust Pizza and Beggars Pizza. Serious buyer s only. Please call or for more information at the contact information below. Agent Owned.

2 Stony Creek Multi-Family Portfolio Aerial Map Stony Creek Golf Course Mayfield Mayfield Mansfield Mansfield (Can Be Included ) Mayfield Mayfield Stony Creek Golf Course Mansfield (Can be Included)

3 10326 Mayfield, Oak Lawn, IL 8 Flat Gas Building Purchase Price: $790,000 Unit Price: $98,750 per unit Gross Income: $98,760 Expenses: $32,550 Net Income (Current): $66,210 Cap Rate: 8.4% *Proforma Income: $79,260 Proforma Cap: 10% Current Rent *Proforma Rent Unit Mix: 7 2 bed /1 bath $ $975-1, bed /4 bath + bsmt $ 1,200 $1,400-1,600 (possible duplex down unit) Parking: Agent Owned Outdoor 8 Parking Spaces Garage N/A Building Size: 9,465 SF Land Size: Approx. 100 x 134 / 0.31 Acr. Yr. Built: Approx PIN #: Real Estate: 2016 Tax: $14,433 Notable Improvements/Equipment Units Date Installed New Sewer Main (outside) Asphalt Patch and Seal: Heat Pump Dual Water Heater Fridge AC Units Dryer (Coin Operated) Washer (Coin Operated) LOMA Exemption on record

4 10326 Mayfield, Oak Lawn, IL 2017 Income / Expense LEASING STATUS UNIT Unit Type Tenant Name Start End MONTHLY ANNUAL *Unit 1-N 4 Bdr / 2 Bath / Basement Lassak /1/2018* $1,200 $14,400 Unit 1-S Basharahil / Salem /31/2018 $950 $11,400 Unit 2-E Boujemaa /31/2018 $900 $10,800 Unit 2-W Barnes 10/1/2016 9/30/2017 $975 $11,700 Unit 2-S Raai /31/018 $980 $11,760 Unit 3-E Malkawi / Alrahal /31/2018 $975 $11,700 Unit 3-W Shalabi aleem 2/25/2017 8/31/2017 $950 $11,400 Unit 3-S Lyons /31/2018 $950 $11,400 $350 $4,200 Loundry (Building Owned: 2 Washers / 2 Dryers) Est. Avg. Rents: $985 GROSS INCOME: $8,230 $98,760 Actual 2017 $1, $204 $14,433 $2,448 Est. Est. Est. $ $66.60 $ $89.00 $16.67 $25.00 $76.00 $68.83 $40.42 $68.94 $11.67 $ $3,872 $799 $3,842 $1,068 $200 $300 $912 $826 $485 $827 $140 $2,397 TOTAL EXPENSES $2,712 $32,550 NET OPERATING INCOME $5,518 $66,210 EXPENSES: Real Estate Tax Insurance 2016 Taxes (Per Final Appeal) Heating Energy Electricity Water & Sewer Scavenger Pest Control Operating Supplies Cleaning Services Snow Removal Grounds & Landscaping City Registration / Inspections Fee Bank Fees Other / Misc. * This oversized four bedroom / two bathroom + basement unit has been rented to family friend at a significantly discounted rate of $850 per month for the past 10 years. Seller will master lease the difference in rent till 7/1/18. Income & Expense

5 10326 Mayfield, Oak Lawn, IL 8 Flat Gas Building Stony Creek Golf Course Mayfield Mayfield Stony Creek Golf Course

6 10326 Mayfield, Oak Lawn, IL Plat of Survey

7 10310 Mayfield, Oak Lawn, IL 8 Flat All Electric Building Purchase Price: $790,000 Unit Price: $98,750 per unit Gross Income: $81,420 Expenses: $28,204 Income: $53,216 Cap Rate: 6.73% *Proforma Rent: $61,559 Proforma Cap: 7.8% Current Rent *Proforma Rent Unit Mix: 7 2 bedroom /1 bath $ $ bedroom / 1 bath $ 700 $ 800 Parking: Agent Owned Outdoor 8 Parking Spaces Garage 4 Semi Private Garage Units $50-75 Building Size: 9,270 SF Land Size: Approx. 90 x 134 / 0.28 Acr. Yr. Built: Approx PIN #: Real Estate: 2015 Tax: $14, Tax: $15,187 Notable Improvements/Equipment Units Date Installed Building Sewer Main (crawl Space) Shingled Roof Garage Door Openers: Range Fridge AC Dryer (Coin /Electric) Intercom Panel LOMA Exemption on record

8 10310 Mayfield, Oak Lawn, IL Income & Expense 2017 Income & Expense LEASING STATUS UNIT Unit Type Tenant Name Start End MONTHLY ANNUAL Unit 1-S 1 Bdr / 1Bath Chudy 9/12/2016 8/31/2017 $700 $8,400 Unit 1-E Fuller & Arcand 9/1/2016 8/31/2018 $820 $9,840 Unit 2-E Keeler 8/1/2016 7/31/2017 $750 $9,000 Unit 2-N Muthana/Almaflehi /31/2018 $800 $9,600 Unit 2-S Becola /31/2018 $800 $9,600 Unit 3-E Fiorenza / Wesolowski 7/9/2016 8/30/2017 $850 $10,200 Unit 3-N Sulieman / Qoran 10/1/2016 9/30/2017 $840 $10,080 Unit 3-S Ali / Agha 3/4/2017 2/28/2018 $850 $10,200 Garage 1 Est. $50 $600 Garage 2 Rented - 3N - Garage 3 Rented - 2S - Garage 4 Est. $50 $600 Laundry (Building Owned: 1 Washes / 2 Dryers) Est. $275 $3,300 Avg Rents: $ GROSS INCOME: $6,785 $81, EXPENSE : Real Estate Tax 2016 Taxes (Per Final Appeal) $1, $15,187 Insurance Actual 2017 $ $2,842 Heating Energy N/A - - Electricity $58 $697 Water & Sewer $319 $3,829 Scavenger $91 $1,094 Pest Control Est. $13 $150 Operating Supplies Est. $17 $200 Cleaning Services $76 $912 Snow Removal $40 $485 Grounds & Landscaping $69 $826 City Registration / Inspections Fee $61 $727 Bank Fees $9 $105 Other / Misc. Est. $96 $1,150 TOTAL EXPENSE: $2, $28,204 NET OPERATING INCOME: $4, $53,216

9 10310 Mayfield, Oak Lawn, IL 8 Flat All Electric Building Stony Creek Golf Course Mayfield Mayfield Stony Creek Golf Course

10 10310 Mayfield, Oak Lawn, IL Plat of Survey