3823 W Lexington Street
Property Description
Welcome to 3823 W Lexington St, a brick and limestone 2-flat offering an excellent opportunity for an investor or owner-occupant looking to build long-term rental income. Situated on a standard 25' x 125' Chicago lot, this multifamily property offers two residential units, additional lower-level space, and two rear parking spaces. The property provides an opportunity to generate income from multiple living spaces while offering investors the potential to increase cash flow over time through continued rental growth and improvements. The building has benefited from prior renovations, including updated windows, and features a newer furnace installed in 2022. The property currently offers an attractive combination of established rental income and future upside. The lower-level garden unit provides additional potential for a buyer interested in exploring future legalization and expansion of the property's income-producing capacity. Buyer to independently verify the legality, permitted use, and requirements associated with the lower-level space. Located in West Garfield Park, the property is positioned in an area that provides an accessible entry point for investors seeking a multifamily asset with room for long-term growth. With its multi-unit configuration, existing rental income, rear parking, and potential for additional income, 3823 W Lexington presents an opportunity for an investor looking beyond traditional single-family properties.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $385,000 |
| Year Built: | 1890 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 7 |
| Number of Bathrooms: | 3 |
ID: 3yd-MREDIL-12759313
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