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
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