14437 Halsted Street, Harvey, IL 60426

Pleased to present the multifamily property at 14437-14445 Halsted St, Harvey, IL 60426. The property at 14437-14445 Halsted St, Harvey, IL 60426, comprises two adjacent California-style walk-ups, offering a total of 30 one-bedroom units, each measuring 750 square feet. This multifamily residential property includes 30 off-street parking spaces and is currently vacant, presenting a significant value-add opportunity for investors to capitalize on the increasing rental market. The property’s potential gross revenue is estimated at $442,800 annually from rental income, with an additional $4,320 annually from laundry facilities, leading to a total potential annual income of $447,120. The owner is offering a $100,000 credit to assist with the renovation of the remaining 15 units and the repair of the porch/staircase. Currently, 15 units have already been renovated, with an estimated per-unit renovation cost of $3,333. In the first year, the property is projected to achieve a net operating income (NOI) of $150,125, resulting in a pro forma cap rate of 9.38%. By the second year, the NOI is expected to increase to $184,909, with a corresponding cap rate of 11.56%. The potential cash-on-cash return is projected to be 11.75% in the first year and 18.07% in the second year. Investment Highlights: Value-Add Opportunity: Significant potential for an investor to improve units and capture the rising rental market. Potential Gross Revenue: $442,800 annually from rent and $4,320 annually from laundry income. Owner Incentive: $100,000 credit to assist with renovating the remaining 15 units and repairing the porch/staircase. Renovated Units: 15 out of 30 units are already renovated. Per Unit Renovation Cost: $3,333 Year 1 NOI: $150,125 Year 2 NOI: $184,909 Pro Forma Year 1 Cap Rate: 9.38% Pro Forma Year 2 Cap Rate: 11.56% Cash on Cash Return: 11.75% in Year 1 and 18.07% in Year 2 This property represents a compelling investment opportunity with strong financial potential and significant room for value enhancement. With the owner’s incentive and the initial renovations already completed, investors can expect attractive returns and long-term appreciation.