Expert Access:

7635 S. East End Ave. Opportunity – 26-Unit Apartment Building

  • EquityBuild Inc. Property

Fund Summary

This beautiful, and well-maintained apartment building has tremendous potential for active real estate investors. The property features 26 large, one-bedroom apartments. Six of the units will be converted to two-bedrooms in order to maximize revenue.

The building has received substantial capital improvements during the past 12 months – including new windows and new porches. EquityBuild's warrantied contractor team will finish the rehab, upgrading the units where needed with new appliances, countertops, flooring, kitchen and bathroom fixtures, tub refinishes, and fresh paint.

The property is located in Chicago's up-and-coming South Shore neighborhood, near Rosenblum Park and Woodhull Park. It is close to shops, restaurants, churches and schools. Public transportation is easily accessible – the Stony Island Metra station is five blocks away, and there are bus stops just down the street.

The property is priced at $1,710,000.

More Information

Fund Description

Property Type
26 units
Refers to the kind of property, including the number of units in the building.
Total Purchase Price
The combined price to buy the building plus estimated building renovation costs.
Total Cash Investment
No Description found!
Fund Type
No Description found!
Projected Refi/Resale Cap Rate Used in Model
No Description found!
No Description found!
Cash on Cash Return, Year 2
Cash on cash return is the ratio of annual before-tax cash flow to the total amount of cash invested, shown as a percentage. Year 2 is once the property has reached full stabilization, and the building is fully rented.
Avg. Internal Rate of Return, Year 7
The average value of the stream of Cash on Cash returns produced by the property through Year 7. This is the rate of return that would be required to equal the benefit of owning the property.
Proposed Unit Configuration (BRs/BAs)
20- 1BR/1BA, 6- 2BR/1BA
This describes how many units contain a specified number of bedrooms and bathrooms.
Unit Mix Monthly Gross Income (per unit)
$750-$950, $850-$1,050
These are the amounts of gross income per month based on the type of units in the building.
Projected Gross Income (annually/monthly)
$23,085 / $277,025
The projected income from all revenue sources for the property (by year and month).
Projected Vacancy
10% = $13,851
The projected annual cost of a building’s vacancy based on the percentage of units that are anticipated to be empty in a given year.
$11,778 ($453/unit)
The annual tax amount for the property.
$9,100 ($350/unit)
This is the estimated annual cost for insuring the property.
Property Management (5%)
The percentage of the gross income collected (in this case 5%) that is paid to the property management company. EquityBuild is able to keep this cost significantly lower than the average for Chicago.
Repairs and Maintenance
$17,550 ($675/unit)
The estimated cost for repairs and maintenance within a year.
$11,050 ($425/unit)
This is the estimated cost for these utilities, based on individual properties.
Net Operating Income (annual/monthly)
$12,837 / $154,049
The amount of money generated by the property, less the regular expenses required to keep it in operation. Does not include financial costs like mortgage payments.

EquityBuild Difference

EquityBuild is a client advocate in a real estate world where we build life-long relationships to create turn-key solutions that consistently deliver double-digit returns. Real estate investment opportunities are carefully selected based on EquityBuild’s proprietary econometric model that identifies properties with strong upside and minimal risk. To learn more about EquityBuild and how you can invest directly in real estate with expert guidance and no landlord hassles please call (877) 978-1869.

*There is a standard deviation of 10% on NOI (net operating income). NOI is a projection based on knowledge at the time of its preparation that may deviate 10% from the represented value to account for market fluctuation in rents and expenses correlated with commodity pricing.

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