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1837-1839 S Karlov Ave 9 Unit Apartment Building $625,000 ($69,444/Unit) Chicago, IL 60623
Investment Highlights
- Well maintained center entry brick masonry property
- Conversion potential to bring two (2) additional units online for a total of 9 units increasing income
- Attractive entry basis for cash flowing property
- Located in the rapidly appreciating North Lawndale submarket
Executive Summary
Interra Realty is pleased to present exclusively for sale 1837-39 S Karlov Ave, an attractive masonry building o?ering nine total units: six 1Bd/1Ba, one 4Bd/1.5Ba, and two non-conforming 3Bd/2Ba units. Four units have been recently updated with newer finishes in the kitchens and bathrooms.
This is an opportunity to acquire an immediately cash-flowing asset with meaningful upside remaining in the rent roll. The two non-conforming units o?er additional income potential and feature spacious layouts, high ceilings, operable windows, and quality finishes.
The property represents a chance for qualified investors to own a well-maintained asset in North Lawndale, a rapidly appreciating neighborhood on Chicago's southwest side.
This is an opportunity to acquire an immediately cash-flowing asset with meaningful upside remaining in the rent roll. The two non-conforming units o?er additional income potential and feature spacious layouts, high ceilings, operable windows, and quality finishes.
The property represents a chance for qualified investors to own a well-maintained asset in North Lawndale, a rapidly appreciating neighborhood on Chicago's southwest side.
Property Facts
| Price | $625,000 | Building Class | C |
| Price Per Unit | $69,444 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 10,941 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RS-3 | ||
| Price | $625,000 |
| Price Per Unit | $69,444 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,941 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Opportunity Zone |
Yes |
| Zoning | RS-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 800 |
| 3+2 | 2 | - | - |
| 4+1.5 | 1 | - | - |
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Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-22-412-012-0000 | Improvements Assessment | $80,173 |
| Land Assessment | $10,527 | Total Assessment | $90,700 |
Property Taxes
Parcel Number
16-22-412-012-0000
Land Assessment
$10,527
Improvements Assessment
$80,173
Total Assessment
$90,700
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1837-1839 S Karlov Ave