Jay Chandran & Melissa Morgan Facilitate $1.025M Sale Of Chicago Multifamily Property
8657 West Berwyn Avenue
$1,025,000
Building Size
—
Asset Type
MultiFamily
Closing
May 22, 2024
AI
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:
- Property Type: Multifamily
- Transaction Amount: $1,025,000
- Units: 6
- Price Per Unit: $170,833
- Market: Chicago
- Buyer's Rep: Jay Chandran - Jay C. Realty Inc.
- Seller's Rep: Melissa Morgan - FLATS
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
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93