A+ Suburb, 27 Unit Multifamily Building
1125, 1135, 1165 N Boxwood Dr. Mount Prospect, IL 60056
Pricing/Terms Explained
$2,994,000
$110,888 / Unit
24
Beds
27
Baths
-
Sq. Ft.
1972
Yr. Built
100%
Occupancy
27 Spaces
3 Stories
Boiler Heat
Paid, On Site
Street View
Property Summary
About The Property
Type
Multifamily
In Place NOI
$194,408
Target CAP Rate
6.5%
Today's Market Value
$4,320,000
Target Purchase Price
$2,994,000
Units
27
Projected NOI
$265,742
Market CAP Rate
4.5%
Value w/Market Rents
$5,900,000
Cost Per Unit
$110,888
Stellar 9-unit brick building in the affluent and family-friendly community of Mt. Prospect. The property consists of (2) studios, (6) 1-beds and (2) 2-beds which are all under market rents allowing the investor the opportunity to raise rents and capitalize on forced appreciation. These units are in excellent rental condition and have been meticulously maintained over the years. A coin operated laundry allows for additional revenue and ample parking rounds out this fantastic investment property.
About the Neighborhood
Incorporated in 1917, Mt Prospect is affluent community 20 miles northwest of downtown Chicago and just 4 miles north of O’Hare International Airport. It is home to nearly 57,000 residents with major employers Cummins Allison, Rauland-Borg and CVS Caremark propping up the local economy. The downtown area has been recently renovated and the city features over 400 acres of parks and recreational facilities. It is home to multiple award winning school districts and was rated by Business Week in 2009 as “the best place to raise kids”.
Due
Diligence
Documents
Chase Real Estate conducts a thorough document review on every property. For access to current leases for this property please fill out our Leases Request Form.
