See all 48 photos
48 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$499,900
Est. payment /mo
6,457 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,457 sqft
Price per Sqft $77
Subdivision Diamond Park Sub
MLS Listing ID 836660
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
Interior
Interior Features Ceiling Fan(s), Open Floorplan
Heating Forced Air
Fireplace N
Exterior
View Y/N true
View true
Building
Lot Description Back Yard, Rectangular Lot, Front Yard
Others
Tax ID 450815179003000004
Acceptable Financing NRA20260406154411029881000000
Listing Terms NRA20260406154411029881000000
Read Less Info
Listed by The Jaeger Group, LLC • Lakia Hasenjaeger
Nearby Locations
GET MORE INFORMATION