Corner Building with 13 Units - 2BD + 1BA Individual ...€¦ · with new kitchen cabinets, windows, hardwood floors throughout bedrooms. Roof is inspected and repaired as needed,

4334 - 40 W WEST END AVE

MULTIFAMILY INVESTMENT OPPORTUNITY

Adjacent Lot

Individual furnaces in all unitsCorner Building with 13 Units - 2BD + 1BA

The information contained herein is proprietary and confidential. It is intendedonly for the use of the party receiving it from First Western Properties, Inc. and isnot to be duplicated or distributed to any other party without the written approvalof First Western Properties, Inc.

The purpose of this analysis is to provide summary information to prospectiveinvestors and to establish a preliminary level of interest in the property. THEINFORMATION IS NOT A SUBSTITUTE FOR A THOROUGH DUE DILIGENCEINVESTIGATION BY THE PROSPECTIVE INVESTOR. Although the informationcontained herein has been secured by sources believed to be reliable, First WesternProperties, Inc. makes NO REPRESENTATION OF WARRANTY, EXPRESS OF IMPLIED,AS TO THE ACCURACY OF THE INFORMATION, including but not limited to numberof legal units, income and expenses of the property; projected financialperformance of the property; size and square footage of the property; presence orabsence of contaminating substances, lead, PCB’s or asbestos; compliance with theAmericans with Disabilities Act; physical condition or age of the property orimprovements’ suitability for a prospective investors’ intended us; or financialcondition of occupancy plans of tenant. First Western Properties, Inc. has notconducted an investigation for verified the information.

ALL POTENTIAL INVESTORS ARE RESPONSIBLE TO TAKE APPROPRIATE STEPS TOVERIFY ALL INFORMATION SET FORTH HEREIN AND CONDUCT THEIR OWNTHOROUGH DE DILIGENCE BEFORE PURCHASING THE PROPERTY. Potentialinvestors assume all risk for any inaccuracies or inconsistencies.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE ALLOW 24-48HOUR NOTICE IN SCHEUDLING YOUR SHOWING.

CONTENTS

PRESENTED BY:

CONFIDENTIALITY & DISCLAIMER

PRESENTED BY

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representationabout it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performanceof the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction thesuitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the expresswritten content of the owner is prohibited.

3PROPERTY INFORMATION

9LOCATION INFORMATION

14FINANCIAL ANALYSIS

18ADVISOR BIOS

O: 773.355.4780E: [email protected]

PAUL TSAKIRIS

Multifamily BrokerO: 773.355.4799C: 773.968.8891E: [email protected]

MELSI BIFSHA

PROPERTY INFORMATION1

Executive Summary

Property Description

Property Details

Complete Highlights

Additional Photos

4

OFFERING SUMMARY

Sale Price: $625,000

Number Of Units: 13

Cap Rate: 12.57%

NOI: $78,558

Lot Size: 0.34 Acres

Year Built: 1914

Building Size: 14,400

Renovated: 2018

Zoning: RT-4

Price / SF: $43.40

West Garfield Park corner 13 unit building with spacious 2 bedroomsapartments. ALL UNITS HAVE MARKET TENANTS AND THE PROPERTY ISSTABILIZED. Great stable investment at an attractive price. Start gaining profitimmediately. Building has separate furnaces on each unit. Few units have beenupdated with new kitchen cabinets, windows, hardwood floors throughoutbedrooms. Roof is inspected and repaired as needed, circuit breaker boxes, hasenclosed gated yard, steel doors.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Corner Building with 13 Units - 2BD + 1BA

• Individual furnaces in all units

• Adjacent Lot

• Value add building

• Enclosed porches

›4334 - 40 W WEST END AVE | 13 UNITS | CHICAGO, IL

$625,000For Sale |

1 PROPERTY INFORMATION

4334 - 40 W West End Ave | Chicago, IL 60624

5

West Garfield Park corner 13 unit building with spacious 2bedrooms apartments. ALL UNITS HAVE MARKET TENANTS ANDTHE PROPERTY IS STABILIZED. Great stable investment at anattractive price. Start gaining profit immediately. Building hasseparate furnaces on each unit. Few units have been updatedwith new kitchen cabinets, windows, hardwood floorsthroughout bedrooms. Roof is inspected and repaired asneeded, circuit breaker boxes, has enclosed gated yard, steeldoors.

PROPERTY OVERVIEW

West Garfield Park corner unit building with 13 very spacious2Bed 1Bath apartments. PROPERTY IS STABILIZED. Walkingdistance to Mason Park, Quick Food Mart, and Family Dollar.Commute easily via Madison & Karlov Bus Lines or via CTAGreen Line at the Pulaski stop. Call today for a showing!

LOCATION OVERVIEW


$625,000For Sale |



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SALE PRICE $625,000

LOCATION INFORMATION

Street Address 4334 - 40 W West End Ave

City, State, Zip Chicago, IL 60624

County/Township Cook

Cross Streets Kostner Ave

Road Type Paved

Nearest Highway I-290, I-94

Nearest Airport O'Hare & Midway

BUILDING INFORMATION

Building Size 14,400 SF

Occupancy % 100.0

Number Of Floors 3

Average Floor Size 4,800 SF

Year Built 1914

Last Renovated 2018

Load Factor Yes

Free Standing Yes

Number Of Buildings 1

PROPERTY DETAILS

Property Type Multifamily

Property Subtype Mid-Rise

Zoning RT-4

Lot Size 14,797 SF

APN# 16104120230000

Lot Frontage 125

Lot Depth 85

Corner Property yes

Waterfront No

Thomas Guide Page #

PARKING & TRANSPORTATION

Street Parking Yes

Rail Access N/A

UTILITIES & AMENITIES

Security Guard No

Handicap Access No

Freight Elevator No

Central HVAC Individual Furnaces

Centrix Equipped No

Leed Certified No

Restrooms

Power No


$625,000For Sale |



7

SALE HIGHLIGHTS

• Corner Building with 13 Units - 2BD + 1BA

• Individual furnaces in all units

• Adjacent Lot

• Value add building

• Enclosed porches


$625,000For Sale |



8


$625,000For Sale |



LOCATION INFORMATION2

Regional Map

Location Maps

Aerial Map

Site Plan

10


$625,000For Sale |

2 LOCATION INFORMATION


11


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FINANCIAL ANALYSIS3

Financial Summary

Income & Expenses

Rent Roll

15

INVESTMENT OVERVIEW

Price $625,000

Price per Unit $48,076

GRM -

CAP Rate 12.6%

Cash-on-Cash Return (yr 1) 12.57 %

Total Return (yr 1) $78,558

Debt Coverage Ratio -

OPERATING DATA

Gross Scheduled Income -

Other Income -

Total Scheduled Income $108,120

Vacancy Cost -

Gross Income $108,120

Operating Expenses $29,562

Net Operating Income $78,558

Pre-Tax Cash Flow $78,558

FINANCING DATA

Down Payment $625,000

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -


$625,000For Sale |

3 FINANCIAL ANALYSIS


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INCOME SUMMARY PER SF

Rental Income $108,120 $7.51

Market Rental Income - -

Gross Income $108,120 $7.51

EXPENSE SUMMARY PER SF

Insurance $4,890 $0.34

Gas $1,750 $0.12

Electric $1,160 $0.08

Water $4,970 $0.35

Garbage $2,750 $0.19

Maintance $2,850 $0.20

Taxes $11,192 $0.78

Management - -

Gross Expenses $29,562 $2.05

Net Operating Income $78,558 $5.46


$625,000For Sale |



17

UNITNUMBER BEDS BATHS

UNITSIZE (SF) RENT MARKET RENT RENT/SF SECURITY DEPOSIT

LEASESTART

LEASEEND

2 1 $720 $850

2 1 $720 $850

2 1 $720 $850

2 1 $675 $850

2 1 $675 $850

2 1 $675 $850

2 1 $675 $850

2 1 $675 $850

2 1 $675 $850

2 1 $700 $850

2 1 $700 $850

2 1 $700 $850

3 1 $700 $850

Totals/Averages

0 $9,010 11,050 $0


$625,000For Sale |



ADVISOR BIOS4

Advisor Bio & Contact 1

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1205 W. AdamsChicago, IL 60607T 773.355.4799C [email protected]

PROFESSIONAL BACKGROUND

Mel Bifsha joins First Western as a multifamily broker. He focuses onup-and-coming areas such as the Pilsen, Humboldt Park, Little Village,Bronzeville and Bridgeport neighborhoods of Chicago. Mel is experienced withproperty revitalization and has bought and sold dozens of multifamilyproperties for his investors and partners. He is also fluent in four languages.“Mel’s combined 18 years of experience in the Chicago metropolitan communitytranslates to a high level of local market expertise that will aid in deliveringresults for First Western and his clients,” read a company statement.

MELSI BIFSHA

Multifamily Broker


$625,000For Sale |

4 ADVISOR BIOS


Documents

Corner Building with 13 Units - 2BD + 1BA Individual ...€¦ · with new kitchen cabinets, windows, hardwood floors throughout bedrooms. Roof is inspected and repaired as needed,