11 157th St - Apartments FOR SALE


Calumet City, IL 60409
$400,000 USD
11 157th St, Calumet City, IL for Sale
$400,000 USD
Apartments - FOR SALE
1/14
null | 9.28% Cap Rate

11 157th St
Calumet City, IL 60409


OVERVIEW

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. With an average gross monthly rental amount of approximately $843 per unit, the asset offers strong in-place income and a compelling basis for a multifamily investment. 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. Current gross revenue is approximately $70,800 annually, with pro forma gross revenue projected at approximately $90,000 annually. After accounting for vacancy and operating expenses, the property generates an estimated current net operating income of $37,107, with pro forma NOI projected to increase to approximately $54,265. 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.

FOR SALE DETAILS

PRICE

$400,000 USD

PRICE/SF

$80 USD /SF

# OF UNITS

7

PRICE/UNIT

$57,143

CAP RATE

9.28%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,850 SF

ZONING

-

APN/PARCEL ID

30-17-213-001-0000

ASK ABOUT THIS PROPERTY

Tony HardyMidwest Investment AdvisorsMore Info

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Tony HardyMidwest Investment AdvisorsMore Info

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