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Elbert D.
  • Real Estate Entrepreneur / Investor
  • Chicago, IL
365
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688
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It's going go quick! Amazing cashflow! Duplex in Michigan City!

Elbert D.
  • Real Estate Entrepreneur / Investor
  • Chicago, IL
Posted Jan 18 2018, 19:31

Hello everyone, this deal will go extremely fast! Please dont hesitate and wait on this. Amazing CCR at 15.1%!!!! near the premium outlet malls in Michigan City. Also about a hour away from Chicago depending on traffic.

Property Description

This home has amazing cash flow and a great buy and hold opportunity in Michigan City. Within walking distance to downtown. Within a few miles of Blue Chip Casino and the Lighthouse Place Outlet mall! Right off route 12 and 20 is the museum and zoo, to take your family and have a great time. This duplex would make a great asset to an investor growing portfolio of investments. Don’t let this one pass you by. Outstanding return on investment. 

Price: $68,750.00

ARV: $74,000.00

CCR: 15.10%

Rent: $650 per unit – Tenants pay gas & electric

Note: We feel the rent could easily be increased by $50 for the upstairs unit and possibly for the downstairs unit, as well.

Property Details

  • Bedrooms: 4
  • Bathrooms: 2
  • Square Footage: 2284
  • Year Built: 1900
  • Type: Frame multi family
  • Garage
  • Heating: Forced Air
  • Cooling: Central A/C
  • Water: City
  • Sewer: City
  • Taxes: $1,000

Features

The property was recently rehabbed. If you’re looking for something with very low maintenance costs, this is it! Below are some of the amenities of the home and work that was very recently completed.

Brand New Tear Off Roof

New deck

2 new water heaters

Some new plumbing

New porches

New bathroom upstairs

Fresh paint in one unit

Separate gas & electric meters

2 stories

Fireplaces in each unit

Octagon dining room in unit 1

Side Drive

Repairs needed

REHAB COSTS INCLUDED IN PURCHASE PRICE

Rehab Cost = $3100.00 – Our crew will complete the work for you.

Paint a total of 6 rooms

Paint “yellow” kitchen a neutral color

Replace 6 windows

Glue down linoleum floor

Install new bathroom vanity in unit 2 and new medicine cabinet

Replace some baseboards

Other minor miscellaneous work to “polish” the units

Miscellaneous

Our property manager can manage the building for you, if you need that service. She will find quality tenants and run extensive background searches on potential renters.

The city is putting in a new train depot a couple of blocks from the property. The South Shore train runs directly to downtown Chicago. This is a huge plus for the neighborhood. There are more and more new businesses opening in the area as well. This neighborhood will be highly desired within the next 2 years. There’s no doubt that the property’s value will increase substantially within the next 2 years and beyond. Rents will also increase, as younger people move into the area.

Terms of sale

This deal will go very quickly. The highest cash offer will take the deal. Send in Proof of funds along with your offer. This is a cash deal only.

We have equitable interest in the property.

  • The info listed above is to the best of our knowledge. Cash or private/hard money only
  • Buyer pays closing costs which include transfer taxes, title insurance, and title company fees
  • Buyer will receive taxes prorated to 100 percent and free and clear title
  • The first investor with a signed contract and $1000.00 earnest money gets the deal
  • This is an IRA Qualified investment

*DISCLAIMER: This information is deemed reliable but is not guaranteed

CONTACT DETAILS

Phone: Text or Call 773-401-7321
Email: [email protected]

Offering