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$ 490,000
Est. payment | /mo
$ 490,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12270483
Year Built 1927
Annual Tax Amount $6,140
Tax Year 2023
Lot Dimensions 8328
Property Description
4336-38 W 18th St, Chicago, IL 60623, is a 7-unit multifamily property offering a compelling investment opportunity in the North Lawndale neighborhood. This Class C property, built in 1901, presents significant value-add potential and benefits from its location within both an Opportunity Zone and Enterprise Zone 1, offering substantial tax incentives to investors. The property features a desirable unit mix of (4) two-bedroom, one-bathroom units and (3) three-bedroom, one-bathroom units, catering to diverse tenant demographics. Currently, 4 units are vacant and ready for renovation and lease-up, presenting a unique opportunity for strategic upgrades to maximize rental income. The pro forma financials highlight robust investment potential: Gross Monthly Rent (Pro Forma): $9,050 Net Operating Income (Pro Forma): $78,161 Projected Cash-on-Cash Return: Above 18% Renovation Budget: $100,000 to $150,000 This value-add opportunity allows investors to increase property value through targeted renovations while capitalizing on strong tenant demand in a market poised for growth. Situated in the heart of North Lawndale, the property offers proximity to transportation, schools, and essential amenities, ensuring sustained demand and long-term growth. For investors seeking high returns and strategic upside, 4336-38 W 18th St is a standout opportunity in Chicago's competitive multifamily market.
Location
State IL
County Cook
Interior
Fireplace N
Exterior
View Y/N true
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Listed by Anthony Hardy • Keller Williams ONEChicago
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "