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Mark Keene

mhkeene60@gmail.com +1(219) 292-3704

$ 499,900

Est. payment | -/mo

6,457 SqFt

Save

$ 499,900

Est. payment | -/mo

Save

6,457 SqFt

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 6,457 sqft

Price per Sqft $77

Subdivision Diamond Park Sub

MLS Listing ID 836660

HOA Y/N No

Year Built 1947

Annual Tax Amount $2,859

Tax Year 2024

Lot Size 9,365 Sqft

Acres 0.215

Property Sub-Type Multi Family

Property Description

Exceptional 6-Unit Investment Opportunity with Major Upside! Rare chance to acquire a high-potential multifamily asset featuring 2 buildings on one lot in a prime location near major expressways and commuter routes. The main 2-story building offers 5 apartment units that are 989 sqft each. The 1st and 2nd floor apartments boast 10' ceilings and each feature a spacious living room and kitchen, 2 bedrooms and 1 bathroom. The basement level features a newly renovated 3 bedroom, 1 bath apartment and a utility room. The 6th unit is a detached single-family home with value-add potential that can be rehabbed or demolished to maximize the site's future use. This property is zoned for up to 9 units, creating a tremendous opportunity for investors, developers, or owner-operators looking to expand cash flow and increase long-term value. The 5-unit building has seen numerous updates, including renovated units and updated HVAC systems, offering a strong foundation for immediate income production. All units are currently vacant, allowing flexibility for the next owner, but units are expected to be leased during the sale process, making this an ideal opportunity to secure a property with both stabilization potential and future development upside. With multiple income streams, strong location appeal, and significant room for increased returns, this is a rare value-add asset with huge income potential. Don't miss this exceptional opportunity to own a multifamily property with redevelopment possibilities and serious upside! This property is being sold as-is. The seller will not make any repairs.

Location

State IN

County Lake

Rooms

Basement Finished

Interior

Interior Features Ceiling Fan(s), Open Floorplan

Heating Forced Air

Fireplace N

Exterior

Parking Features On Street

View Y/N true

View Neighborhood

Building

Lot Description Back Yard, Rectangular Lot, Front Yard

Sewer Public Sewer

Water Public

Others

Tax ID 450815179003000004

Acceptable Financing NRA20260406154411029881000000

Listing Terms NRA20260406154411029881000000

Listed by The Jaeger Group, LLC • Lakia Hasenjaeger

Nearby Locations

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Mark Keene

Managing Broker License ID: RB18001895

mhkeene60@gmail.com

+1(219) 292-3704

3709 Broadway #2, Gary, IN 46409

2315 Industrial BLVD Gary, IN 46407

Mark Keene

Key Details

Location

Rooms

Interior

Exterior

Building

Others

2315 Industrial BLVD