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Mark Keene

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

Est. payment | -/mo

6,457 SqFt

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Est. payment | -/mo

Save

6,457 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 6,457 sqft

Subdivision Diamond Park Sub

MLS Listing ID 836660

Year Built 1947

Annual Tax Amount $2,859

Tax Year 2024

Lot Size 9,365 Sqft

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

Cooling None

Flooring Carpet, Vinyl, Laminate, Hardwood

Fireplace No

Exterior

Parking Features On Street

Utilities Available Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected

Roof Type Shingle

Building

Lot Description Back Yard, Rectangular Lot, Front Yard

Story 2

Structure Type Aluminum Siding

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by The Jaeger Group, LLC

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 Boulevard Gary, IN 46407

Mark Keene

Key Details

Location

Rooms

Interior

Exterior

Building

Others

2315 Industrial Boulevard

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