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Adela Rus Of Homesmart Connect Represents Buyer In $1.5M Niles Multifamily Transaction

Property Image
SOLD
$1,500,000
Daniel (Dan) Richardson
AR

Illinois

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MultiFamily
Sold 08/09/2024
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Property Image
SOLD

Adela Rus Of Homesmart Connect Represents Buyer In $1.5M Niles Multifamily Transaction

7124 West Jarvis Avenue

See Similar Deals
MultiFamily
Sold 08/09/2024
Daniel (Dan) Richardson
AR
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of three 3-flat apartment buildings located at 7124 West Jarvis Avenue in Niles, which were fully rented. The properties are brick-constructed and encompass 0.62 acres, providing stable cash flow and on-site amenities. The sale was finalized at a price of $1,500,000.

Summary of transaction details:

Adela Rus represented the buyer in this transaction, while Daniel Richardson represented the seller. The properties are situated in a high-demand area within the Niles West school district, enhancing their investment potential.

Players

Daniel (Dan) Richardson
Berkshire Hathaway HomeServices
Daniel Richardson
1 deal$1.5M volume(773) 682-9601
BROKER
AR
Homesmart Connect
Adela Rus
1 deal$1.5M volume(708) 878-0503
BROKER

Details

SOLD
IMAGE: Daniel Richardson DATE: 08/09/2024 ADDRESS: 7124 West Jarvis Avenue MARKET: Niles ASSET TYPE: Multifamily ~ ACRES: 0.62 BUYER'S REP: Adela Rus - Homesmart Connect (@HomeSmartConnect) SELLER'S REP: Daniel Richardson - Berkshire Hathaway HomeServices Starck Real Estate (@Starckre) SALE PRICE: $1,500,000 NOTE: Adela Rus of Homesmart Connect represented the buyer, and Daniel Richardson of Berkshire Hathaway HomeServices Starck Real Estate represented the seller in the $1.5 million sale of three 3-flat apartment buildings at 7124 West Jarvis Avenue, Niles. The fully rented, brick-constructed properties offer stable cash flow with on-site amenities and are located in a high-demand area within the Niles West school district.

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

$79,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18