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Jay Chandran & Melissa Morgan Facilitate $1.025M Sale Of Chicago Multifamily Property

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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 Facilitate $1.025M Sale Of Chicago Multifamily Property

8657 West Berwyn Avenue

See Similar Deals
MultiFamily
Sold 05/22/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

8657 West Berwyn Avenue is a corner six-flat property located in the O'Hare submarket of Chicago. The property was sold for $1,025,000, offering a great investment opportunity in a high-demand rental market. It features well-maintained units and amenities, including a detached two-car garage, surface parking spaces, on-site laundry machines, and ample tenant storage.

Summary of transaction details:

Representing the buyer in this transaction is Jay Chandran from Jay C. Realty Inc., a seasoned professional with a keen eye for lucrative real estate investments. On the seller's side, Melissa Morgan from FLATS facilitated the sale, bringing her expertise in property transactions and ensuring a smooth process for all parties involved.

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: Jay Chandran DATE: 05/22/2024 ADDRESS: 8657 West Berwyn Avenue 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: 8657 West Berwyn Avenue, a corner six-flat property located in the O'Hare submarket of Chicago, was sold for $1,025,000, presenting a great investment opportunity in a high-demand rental market with strong in-place income. Represented by Jay Chandran of Jay C. Realty Inc. on the buyer's side and Melissa Morgan of FLATS on the seller's side, the property features well-maintained units and amenities, including a detached two-car garage, surface parking spaces, on-site laundry machines, and ample tenant storage, offering potential for conversion and portfolio sale opportunities with neighboring properties.

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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