Lucas Fryman, David Goss, Jon Morgan, And Sam Gutierrez Broker A $1.9M Sale Of A Multifamily Asset In Bronzeville, Chicago
SOLD
$1,925,000
+ 1
Illinois
See Similar DealsMultiFamily4,351 SF
Sold 05/14/2020
SOLD
Lucas Fryman, David Goss, Jon Morgan, And Sam Gutierrez Broker A $1.9M Sale Of A Multifamily Asset In Bronzeville, Chicago
4351 South King Drive, Chicago, IL 60615
See Similar DealsMultiFamily4,351 SF
Sold 05/14/2020
+ 1
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$442
Total Square Footage:4,351 SF
Transaction Type:Sale
A multifamily property located at 4351-59 S. Martin Luther King Drive in Bronzeville, Chicago has been sold for $1,925,000. The property consists of 18 units, resulting in a price per unit of $107,000. The transaction took place on May 14, 2021, and the property boasts a cap rate of 6.9% and a gross rent multiplier (GRM) of 7.07.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,925,000
- Units: 18
- Price Per Unit: $107,000
- Cap Rate: 6.9%
- GRM: 7.07
The sale of this multifamily property was facilitated by the brokers Lucas Fryman, David Goss, Jon Morgan, and Sam Gutierrez. These individuals represented the buyer and seller in the transaction, ensuring a successful deal for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$102,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,839.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,125.48
Annual Debt Service$109,505.79
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