1842 S Saint Louis AVE Pending Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60623
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 12187061
Style Greystone
Bedrooms 10
Year Built 1898
Annual Tax Amount $2,540
Tax Year 2023
Lot Size 3,049 Sqft
Lot Dimensions 25X125
Property Description
Presenting this fantastic Investment Opportunity in the vibrant North Lawndale Neighborhood. This spacious Refurbished Legal 2-Flat Greystone with three rental opportunities features two units with 4bedrooms/1bath each and a finished 2bed/1bath Lower Level in-Law unit that has a front & rear egress. Whether you're looking to make this your forever home or invest in a rental opportunity, this building with LOW TAXES ($2,540 W/OUT a Homeowner's Exemption) offers tremendous potential. With no current tenant leases, the income-generating potential is wide open for investors. Healthy Rental Comps show low market times and up to $2,583 for a 4bed/1bath rental without parking. See MLS#:11955268 for similar sized comparable rental located at 1635 S Central Park. A great comparable for a 2bed/1 bath Rental is located at 1915 S Avers (MLS#:12026088). This unit rented for $1,650 in two days. Making the estimated Monthly Rental Yield $6,816 and $81,792 annually. The cost of doing business is everything when it comes to multi-family ownership. That is why we covered all the essentials; all units have separate heating & in-unit washer & dryers. Please note: seller does not warrant the legality of the in-law garden unit. However, the property is located in one of the five ADU pilot areas, the "West Zone." Apply for a Additional Dwelling Unit zoning change at www*chicago*gov/adu to add the lower level as a legal ADU and further increase value. COMPETITIVE ADVANTAGE: Your tenants will love our spacious living spaces with separate dining rooms, eat-in kitchens and the BRAND NEW decks. This is an ideal opportunity for owner-occupants or investors looking to capitalize on a strong rental market with potential for rental growth and a stable tenant base. This is your end of Summer Must Have! If you've been debating whether to buy or not, this is your sign to DO IT!
Location
State IL
County Cook
Area Chi - North Lawndale
Zoning MULTI
Rooms
Basement Full
Interior
Heating Natural Gas,Forced Air
Equipment CO Detectors,Water Heater-Gas
Fireplace N
Exterior
Exterior Feature Deck
Community Features Curbs,Gated,Sidewalks,Street Lights,Street Paved
Waterfront false
Roof Type Rubber
Parking Type Off Alley,Off Street,Alley Access
Building
Lot Description Corner Lot,Fenced Yard
Dwelling Type Two to Four Units
Sewer Public Sewer
Water Public
New Construction false
Schools
Elementary Schools Crown Elementary School Comm Acd
Middle Schools Crown Elementary School Comm Acd
High Schools Farragut Career Academy Senior H
School District 299 ,299, 299
Others
Ownership Fee Simple
Special Listing Condition None