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Listed by Anthony Hardyof Keller Williams ONEChicago
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Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12673242
Year Built 1911
Annual Tax Amount $9,128
Tax Year 2024
Lot Dimensions 50X117
Property Sub-Type Multi Family 5+
Property Description
11 E 157th St. presents investors with the opportunity to acquire a 7-unit multifamily property in Calumet City, Illinois, at a list price of $400,000. The property consists of (1) 2-bedroom / 1-bathroom unit and (6) 1-bedroom / 1-bathroom units, totaling approximately 5,000 square feet. The current ownership has also completed recent upgrades and improvements to the property, including roof repairs and unit renovations. These capital improvements help support the property's current rental performance while reducing near-term ownership concerns for a new investor. At the list price, the property is being offered at approximately $57,143 per unit and $80 per square foot. Based on the list price, the property produces an estimated 9.28% current cap rate and a projected 13.57% pro forma cap rate. The current GRM is approximately 5.65, with the pro forma GRM improving to approximately 4.44. These metrics position the property as a high-yield South Suburban multifamily opportunity with strong cash flow relative to its acquisition price. The investment thesis is centered around acquiring a 7-unit multifamily asset with strong current cash flow, recent ownership improvements, a favorable price per unit, and additional upside through rental growth and ancillary income.
Location
State IL
County Cook
Interior
Fireplace N
Exterior
View Y/N true
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