4340 W 18th Street new Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60623
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12271682
Year Built 1940
Annual Tax Amount $5,927
Tax Year 2023
Lot Dimensions 60X125
Property Description
4340-42 W. 18th St offers an excellent investment opportunity in Chicago's North Lawndale neighborhood. This 7-unit multifamily property provides substantial value-add potential, benefiting from its prime location in both an Opportunity Zone and Enterprise Zone 1, granting significant tax advantages to investors. Property Highlights: Unit Mix: (3) Two-bedroom, one-bathroom units (3) Three-bedroom, one-bathroom units (1) One-bedroom, one-bathroom unit Current Condition: 6 units are vacant and in need of renovations. Renovation budget estimate: $100,000-$150,000. Pro Forma Financial Projections: Monthly Rental Income: $8,850 Net Operating Income (NOI): $74,820 Projected Cash-on-Cash Return: Above 20% With 6 of 7 units available for renovation and lease-up, this property presents a prime opportunity to reposition and maximize income. The estimated renovation costs align with a value-add strategy that enables investors to capitalize on tenant demand and strong market growth potential. Located in the thriving North Lawndale neighborhood, this property is surrounded by public transportation, schools, parks, and other essential amenities, ensuring long-term tenant interest and stability. For investors looking to achieve strong cash-on-cash returns while leveraging the benefits of Opportunity Zone tax incentives, 4340-42 W. 18th St is an unmatched addition to any multifamily portfolio.
Location
State IL
County Cook
Zoning MULTI
Interior
Fireplace Y
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick,Concrete