Helping Our People Evolve LLC

Let HOPE put some cash in your pockets.

1412 Connecticut St, Gary, IN 46407

· 6 Unit Brick Building – Apartments – 4,025sqft – Year Built: 1929



· Unit Mix: 5 (1 Bedroom Apartments) and 1 (2 Bedroom Apartment)



· Fair Market Rent (1 bedroom): $800/month - (2 bedroom): $1000/month



· Estimated Rehab: $1k to paint the common areas



· Current Rental Income: $4,532/month - $54,384/year



· Gross Yearly Income: $55,584



· Operating Expenses: $21,436/year



· NOI: $34,184



· Coin Laundry Income: $100-$150/month



· Asking Price: $360k or Best Offer



· Cap Rate: 9.5%



· Pictures: https://www.dropbox.com/scl/fo/qfyj5hb9m4dovb15gz06q/AAP1vMsuMAOr8ap5WR9bqGk?rlkey=0ebbydujzncz8t204hnj6p3wr&st=mfmy4jzi&dl=0



· Seller Financing Available:



o Purchase Price: $360k

o Down Payment: $120k

o Monthly Payments: $1,600/month for 2 years or 1,800/month for 5 years

o Monthly Payments are interest only.

o $240k Due at Maturity

o Assignment Fee: $15k

o Total Entry Fee: $135k + Closing Costs