Multifamily Property for Sale in Calumet City, IL

  • Price: $400K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Calumet City, IL 60409
  • Size: 5,000 SF
  • Year built: 1911

Description

Presented by Midwest Investment Advisors with KW Commercial & Keller Williams ONEChicago 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. Building SF: 5000 | Land Size: 0.13 Ac | Year Built: 1911 | Listing Type: FOR SALE

Market Context

This multifamily in Calumet City, IL is listed for sale at $400,000 across 5,000 SF. It is offered at an approximate 9.3% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1911. It has been on the market for 20 days. Compare it against other multifamily listings for sale in Calumet City, IL — <a href="/search/sale/multifamily/illinois/calumet-city">view the full market</a>.

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