RE/MAX Next Acquires Multifamily Property In Chicago For $1.2M
SOLD
$1,201,887
Illinois
See Similar DealsMultiFamily5,550 SF
Sold 12/23/2020
SOLD
RE/MAX Next Acquires Multifamily Property In Chicago For $1.2M
2338 North Greenview Avenue, Chicago, IL, USA
See Similar DealsMultiFamily5,550 SF
Sold 12/23/2020
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:5,550 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 2338 N. Greenview Avenue in Chicago. The sale took place on December 23, 2020, with a purchase price of $1,201,887. With a total of 3 units, the price per unit of this property is approximately $400,629. The property is situated in a market with a cap rate of 4.87%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,201,887
- Units: 3
- Price per Unit: $400,629
- Cap Rate: 4.87%
Representing the buyer in this transaction is Michael Gerhardt from RE/MAX Next. Nathan Gautsche from Chicago Real Estate Resources served as the seller's representative. These individuals played crucial roles in facilitating the deal between both parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,100.64
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,270.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,697.56
Annual Debt Service$68,370.69
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