Matt Laricy Acquires Multifamily Property In Chicago For $1.38M
SOLD
$1,380,000
Illinois
See Similar DealsMultiFamily2,976 SF
Sold 05/17/2020
SOLD
Matt Laricy Acquires Multifamily Property In Chicago For $1.38M
2253 N Magnolia Ave, Chicago, IL, USA
See Similar DealsMultiFamily2,976 SF
Sold 05/17/2020
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$463
Total Square Footage:2,976 SF
Transaction Type:Sale
Located at 2253 N Magnolia Ave in Chicago, this multifamily property was recently sold in a closed transaction. The sale was facilitated by Matt Laricy from Americorp, Ltd, who represented the buyer, and Sharon O'Hara from roperties, who represented the seller.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,380,000
- Units: 3
- Price Per Unit: $460,000
- Market: Chicago
The transaction took place on May 17, 2021. With 3 units available, each unit was sold at an average price of $460,000. This sale represents a significant investment in the Chicago market.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$73,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,902.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,541.90
Annual Debt Service$78,502.85
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