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Jay Chandran & Melissa Morgan Close Multifamily Sale In Chicago For $1.025M

Property Image
SOLD
$1,025,000

Illinois

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MultiFamily
Sold 05/22/2024
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Property Image
SOLD

Jay Chandran & Melissa Morgan Close Multifamily Sale In Chicago For $1.025M

5240 North Delphia Avenue

See Similar Deals
MultiFamily
Sold 05/22/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A six-unit multi-family property located at 5240 North Oakview Street in Chicago was sold for $1,025,000. The property features well-maintained two-bedroom units and additional amenities such as a basement, attached garage, surface parking, and common laundry, making it a promising investment opportunity in the high-demand rental market of the O'Hare submarket.

Summary of transaction details:

Melissa Morgan represented the seller FLATS in the transaction, while Jay Chandran from Jay C. Realty Inc. served as the buyer's representative. The deal underscores the active real estate market in Chicago and highlights the role of key industry professionals in facilitating successful property transactions.

Players

Melissa Morgan
4 deals$5.1M volume
BROKER

Jay Chandran
Jay C. Realty Inc.
3 deals$4.2M volume(847) 361-7653
BROKER

Details

SOLD
IMAGE: Melissa Morgan & Jay Chandran DATE: 05/22/2024 ADDRESS: 5240 North Oakview Street MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Jay Chandran - Jay C. Realty Inc. SELLER'S REP: Melissa Morgan - FLATS SALE PRICE: $1,025,000 UNITS: 6 ~ PPU: $170,833 NOTE: A six-unit multi-family property located at 5240 North Oakview Street in Chicago was sold for $1,025,000, showcasing a strong in-place income with a current monthly rent roll of $8,765. Featuring well-maintained two-bedroom units and additional amenities like a basement, attached garage, surface parking, and common laundry, the property presents a promising investment opportunity in the high-demand rental market of the O'Hare submarket.

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

$54,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,641.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,859.02
Annual Debt Service$58,308.28