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$489,999
Est. payment /mo
6,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $81
MLS Listing ID 836484
Year Built 1955
Annual Tax Amount $4,125
Tax Year 2025
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Mixed Use
Property Description
Value add mixed use investment opportunity with massive upside potential in EXCELLENT condition! Currently generating 1,650/month from only two residential studio units (750 and 900 each), this property offers the ability to increase income to over 5,500/month through lease-up, unit expansion, and rent stabilization. The property features six total units retail, office, and residential including a 3,000 SF commercial space and a 1,950 SF commercial/office unit, both vacant and capable of commanding 1,200-1,600/month each. Two additional vacant office spaces can rent for 500-650/month each, or could be converted into larger residential units commanding 1250-1,500/month each. Off-street parking, additional rear lot space/storage, and on site laundry make this property highly appealing to tenants. Ideal for investors seeking to build equity, increase cash flow, and reposition an underperforming asset in a strong rental market.
Location
State IN
County Lake
Interior
Heating Natural Gas
Fireplace N
Exterior
Exterior Feature Balcony, Storage, Private Yard
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Building
Lot Description Back Yard, Rectangular Lot, Near Public Transit, Paved, Corner Lot
Schools
School District Hammond
Others
Tax ID 450601410002000023
Acceptable Financing NRA20260402202353241553000000
Listing Terms NRA20260402202353241553000000
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Listed by Listing Leaders Northwest • Anil Bhalla
Nearby Locations
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