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1511 West Nelson Street

Anish Sheth & Daniel Ritter Purchase Multifamily Property In Chicago For $1.25M As Buyer's Reps
SOLDMultiFamily

Anish Sheth & Daniel Ritter Purchase Multifamily Property In Chicago For $1.25M As Buyer's Reps

1511 West Nelson Street

$1,250,000

Building Size

Asset Type

MultiFamily

Closing

May 22, 2024

AI

A unique multifamily property located at 1511 West Nelson Street in Chicago was sold for $1,250,000. The property features a two-unit main house with high-end finishes and a rear coach house, offering a total of 10 bedrooms, 7 bathrooms, separate HVAC systems for each unit, shared common laundry, and recent updates including a new roof, furnace, plumbing, windows, and renovated interiors, making it an attractive investment opportunity.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,250,000
  • Address: 1511 West Nelson Street
  • Market: Chicago

Anish Sheth and Daniel Ritter of Third Coast Realty represented the buyer, while Michael Masterson and Ryan Blake of Essex 312 acted as the seller's representatives in the transaction.

Players

Anish Sheth

Third Coast Realty

Broker

$9.3M

vol

4 deals

Broker

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93