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4 Flat 5024 Patterson Portage Park Chicago IL Mu

City: CHICAGO ZIP: 60641

Built In: 1910

Lot Size: K

Lot Dimensions: 43 X 125

# of Units: 4

Unit 1 Floor 1: 2 bedrooms 1 baths $1100

Unit 2 Floor 2: 2 bedrooms 1 baths $1115

Unit 3 Floor 1: 2 bedrooms 1 baths $1085

Unit 4 Floor 2: 2 bedrooms 1 baths $1050

Detailed Listing Description

Large certified 4 flat in Portage Park on oversized 43x125 lot. Current tenants with all leases through 2020, 3 of 4 tenants are long term. Total monthly rental income $4350 with additional income from laundry, 2 sets of washers and dryers. All the units are well maintained with potential for improvements and improved income. Potential to convert the backyard into parking spaces for even more income ask listing agent for details. Improvements over the last two years include all new exterior doors, new laundry machines, new hot water tanks, spot tuck pointing and new owners locker in the basement. Great block and outstanding investment opportunity.

Additional Property Details

Garage & Parking
  • ParkingN
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Tenant Pays Unit 4B,C,D
Appliances
  • Appliances Unit 1A,B
  • Appliances Unit 2A,B
  • Appliances Unit 3A,B
  • Appliances Unit 4A,B
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60641

Listings in this Zip Code average: 2 to 3 units, and are priced at $374,501 to $433,229
This listing is 3% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Portage Park

Listings in this Neighborhood average: 2 to 3 units, with average prices of $353,355 to $460,652
This listing is 4% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $52,200 Monthly $4,350
Rental Income Stabilized : Annual $59,424 Monthly $4,952
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$550,0004$137,5005.65%10.540.90%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,350$4,952
Year Total$52,200$59,424
Expense
Total$21,145$21,145
Net Operating Income$31,055$38,279
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $6655 $18427 $25082 $2091
Total         $6,655 $18,427 $25,082   $5,973 $6,655 $12,628
Stabilized         $6,655 $18,427 $25,082   $13,197 $6,655 $19,852
Custom         $6655 $18427 $25082   $13197 $6655 $19852




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1412,5002,0915441,5475441,5472,091
2411,9562,0915461,5451,0903,0924,182
3411,4102,0915481,5431,6394,6346,273
4410,8612,0915501,5412,1896,1758,364
5410,3112,0915521,5392,7417,71410,455
6409,7592,0915541,5373,2969,25012,546
7409,2042,0915561,5353,85210,78514,637
8408,6482,0915591,5324,41112,31716,728
9408,0892,0915611,5304,97113,84818,819
10407,5292,0915631,5285,53415,37620,910
11406,9662,0915651,5266,09916,90223,001
12406,4012,0915671,5246,66618,42625,092
13405,8342,0915691,5227,23519,94827,183

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Listing Agent: Philip Schwartz
Listing Office: @properties
5452 W. Cullom Ave Chicago

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