4340 W 18th Street

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.

Overview

Property Status

Sold

Date Sold

March 26, 2025

MLS ID

12271682

Property Type

Multi-Family

Year Built

1940

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Tamika M. Marks

(773) 656-9895 [email protected]

Features & Amenities

Neighborhood

Chicago

Stories

Substructure

Concrete Perimeter

Sales Price

$410,000

Real Estate Tax

$5,928/yr

Zoning

MULTI

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