Trails West

400 North Westridge Drive, Carbondale, IL

14.92% return

SP: $729,900

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Property Description

B CLASS APARTMENTS!!!

Very nice property. 4 quadplexes on an acre, total of 16 units. Each unit is 2bed/1bath. Low maintenance. Quiet, suburban area, surrounded by middle class single family homes and condominiums. Units will easily rent for $850+!!! RENTAL COMPS ARE AT $900+!!!! 14%+ NET RETURN ON INVESTMENT!!! Completely turnkey.

Professional management is available. Do not miss out on this opportunity.

Property Information

Listing statusSold
Property typeMulti Family
Total units16
Total bedrooms32
Total bathrooms16
Building size12648 sq. ft.
Lot size0.9 acres
Year built1970

CountyJackson County
SubdivisionWESTRIDGE
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingElectric baseboards
CoolingWall A/C

Property Financial Summary

Sale price$729,900
Estimated rehab¹$0
Total investment$729,900

TypeProforma

Gross income (annually)$150,000
Operating expenses (annually)$41,081
Net income (annually)$108,919
Gross return20.55%

Gross income (monthly)$12,500
Operating expenses (monthly)$3,423
Net income (monthly)$9,077
Net return14.92%

Property Income & ExpensesMonthlyAnnual

Income

Laundry Income$400/month$4,800/year
Building A
Unit A1: 2 bed / 1 bath$750/month$9,000/year
Unit A2: 2 bed / 1 bath$750/month$9,000/year
Unit A3: 2 bed / 1 bath$750/month$9,000/year
Unit A4: 2 bed / 1 bath$750/month$9,000/year
Building B
Unit B1: 2 bed / 1 bath$750/month$9,000/year
Unit B2: 2 bed / 1 bath$750/month$9,000/year
Unit B3: 2 bed / 1 bath$750/month$9,000/year
Unit B4: 2 bed / 1 bath$750/month$9,000/year
Building C
Unit C1: 2 bed / 1 bath$750/month$9,000/year
Unit C2: 2 bed / 1 bath$750/month$9,000/year
Unit C3: 2 bed / 1 bath$750/month$9,000/year
Unit C4: 2 bed / 1 bath$750/month$9,000/year
Building D
Unit D1: 2 bed / 1 bath$750/month$9,000/year
Unit D2: 2 bed / 1 bath$750/month$9,000/year
Unit D3: 2 bed / 1 bath$850/month$10,200/year
Unit D4: 2 bed / 1 bath$750/month$9,000/year
Total$12,500/month$150,000/year

Expenses

Property Taxes$1,756/month$21,067/year
Insurance (estimated)$608/month$7,294/year
Lawn care$60/month$720/year
Maintenance reserve$1,000/month$12,000/year
Total$3,423/month$41,081/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.