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Tim Stassi

timstassi@dwellonerealty.com +1(312) 371-1070

$ 475,000

Est. payment -/mo

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Open Sat 10AM-1PM

1842 S Saint Louis AVE Chicago, IL 60623

10 Beds

3,049 Sqft Lot

OPEN HOUSE

Sat Oct 19, 10:00am - 1:00pm

UPDATED:

10/18/2024 05:06 AM

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

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

Listed by Karla Mina • MPower Residential Brokerage LLC

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Tim Stassi

+1(312) 371-1070

Broker/Owner

Tim Stassi

Tim Stassi

1842 S Saint Louis AVE Chicago, IL 60623

OPEN HOUSE

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1842 S Saint Louis AVE