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James Hodur Represents Buyer In $1.375M Sale Of Joliet Multifamily Property

Property Image
SOLD
$1,375,000
James Hodur
Derek Hackney

Illinois

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MultiFamily
Sold 07/10/2024
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Property Image
SOLD

James Hodur Represents Buyer In $1.375M Sale Of Joliet Multifamily Property

512 Bellarmine Drive East

See Similar Deals
MultiFamily
Sold 07/10/2024
James Hodur
Derek Hackney
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The 12-unit, all-brick multifamily building located at 512 Bellarmine Drive in Joliet was sold for $1.375 million. The property boasts long-term tenants and is managed by Derek Hackney of Steel City Real Estate. The management company is open to continuing its services under the new ownership.

Summary of transaction details:

James Hodur from Coldwell Banker Commercial represented the buyer in the acquisition of the multifamily property. On the other side of the negotiation was Derek Hackney of Steel City Real Estate, serving as the seller's representative.

Players

James Hodur
Coldwell Banker
James Hodur
27 deals$29.6M volume
BROKER
Derek Hackney
Steel City Real Estate and Property Management Services
Derek Hackney
1 deal$1.4M volume(815) 439-5054
BROKER

Details

SOLD
IMAGE: James Hodur DATE: 07/10/2024 ADDRESS: 512 Bellarmine Drive MARKET: Joliet ASSET TYPE: Multifamily BUYER'S REP: James Hodur (@JamesHodur) - Coldwell Banker Commercial (@CBCWorldwide) SELLER'S REP: Derek Hackney - Steel City Real Estate and Property Management Services, Inc SALE PRICE: $1,375,000 UNITS: 12 ~ PPU: $114,583 NOTE: James Hodur of Coldwell Banker Commercial represented the buyer in the $1.375 million sale of a 12-unit, all-brick multifamily building at 512 Bellarmine Drive, Joliet. The property, managed by Derek Hackney of Steel City Real Estate, has long-term tenants and the management company is willing to continue with a new owner.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$73,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,885.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,518.20
Annual Debt Service$78,218.42