PRIME BUCKTOWN 4-FLAT VALUE-ADD INVESTMENT OPPORTUNITY
2418 N Western Avenue offers an investor or owner-occupant a four-unit residential property situated at the convergence of Bucktown, Logan Square, and West Lakeview. The building features three 1BR/1BA units in the front building and a detached 1BR/1BA rear coach house across ~3,000 NRSF on a 2,725 SF lot.
Key Property Features:
• Individual Utilities: Separate HVAC, 100-amp electrical panels, and dedicated 50-gallon hot water tanks per unit.
• Building Infrastructure: Vinyl windows, pitched asphalt shingle roof, common area laundry, enclosed rear porches, and 1 exterior parking space included.
• Proven Rental Upside: In-place rents average $1,756/month against a $2,300/month market average. Marking existing leases to market yields an 8.05% Stabilized Cap Rate ($72,449 NOI) and 7.93x GRM with no initial capital expenditure required.
• Owner-Occupant Potential: Unit 2F is in the process of moving out (expected vacant by 9/30/26), creating immediate occupancy flexibility.
• Transit-Oriented Location: Located 0.4 miles from the Western Blue Line station (~10 minutes to the Loop) with rapid access to I-90/94 (Kennedy Expressway).