4 PLEX W/INCREDIBLE17.15% ROI! East Chicago, Indiana
This property is a cash cow! Yearly cash flow is over $13,000. This 4 plex multi unit is 5023 square feet! It’s located near the expressway to downtown Chicago and the Illinois border is a couple miles away. Shopping is less than a block away. This will sell quickly.
Pictures of property: https://www.dropbox.com/sh/jq8e43jhh9ujaxr/AAChsVRSdxl12Y6QO8wTwTY2a?dl=0
Please contact me for the breakdown of the costs and numbers.
Property Specs:
2 Story frame - Built: 1913 -Square feet: 5023 -7 Bedrooms -4 baths - Full Basement -Newer roof
Taxes: $1,471.00
This is a very large multi unit. One of the smaller units was converted into a large 2 bedroom unit. The larger 2 bed unit, could rent for more than a “standard” unit, however, we did not increase the rent cost. We would rather be conservative with our rent estimates. If our property manager can get a higher rent, then we feel that’s just icing on the cake! We can also convert this “back” to a 4 unit for an additional $2200. So, you currently have a total of 3 units. The roof is only 4 years old. There is a coin op washer located in the basement. You could purchase a coin op dryer and create an additional stream of income each month. Note:The tenants pay for electric and “stove” gas. The Landlord pays for heating (gas) and water. We have included these costs on the CCR sheet, under the “maintenance” costs. As a result of the tenants not paying for heat, we have compensated for that cost and it is reflected in the rents.
3915 Grand Blvd. East Chicago, Indiana 46312
Purchase Price: $40,000.00
Rehab Costs: $40,000.00
Total Price: $80,000.00
Cash On Cash Return = 17.15%
Repairs needed
Rehab Cost = $40,000.00
As always, our crew will complete the rehab. The rehab on this house includes quite a bit of “updating”. The entire scope of work is available upon request. Here is a list of major items we will be repairing or replacing:
- Some New appliances
- New flooring throughout
- New bathrooms – Flooring vanities, faucets etc.
- Paint all units
- Repair front enclosed porch
- Replace some windows
- Replace some kitchen cabinets
It will take approximately 4 - 6 weeks to complete the rehabs. We will work on one unit at a time, so that you can start renting as soon as possible.
Terms of Sale:
The highest Cash Offer will take this deal. Please do your own due diligence before contacting us. Send in Proof of Funds along with your offer.
We have equitable interest in the property.
- The info listed above is to the best of our knowledge.
- Buyer pays 100% of closing costs which include: title company fees and your attorney fees
- Buyer will receive taxes prorated to 100 percent and free and clear title
- Please do all your inspections and due diligence up front before contacting
- The first investor with a signed contract and $1500.00 earnest money gets the deal
- This is an IRA Qualified investment
- This information is deemed reliable but is not guaranteed
CONTACT DETAILS:
Scott Steffek
Invest in Rehabs, LLC.
Phone: 219-308-0162
Email: [email protected]