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Triplex Property with Basement
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1531 Van Buren Street, Gary, IN 46407

Residential Income, Gary, IN

Property SizeContact for details
Lot Size0.07 Acres
Days on Market42

Property Features for 1531 Van Buren Street

General Information

Property type Residential Multi Family
Property subtype Triplex
Zoning description Residential
Rooms Basement
Parking features On Street
Basement Walk-Out Access
Subdivision Ctl & Co's 5th All
Lot features Rectangular Lot
Directions Heading NORTH on Broadway, head WEST/make a LEFT onto W 15th Avenue. From W 15th Avenue, make a LEFT onto Van Buren St and multi-unit property will be on the LEFT hand side.
Standard status Active
APN 450809404003000004
Lot size 0.07 Acres

Taxes and HOA fees

Tax Year 2025
Tax Description C. T. L. & I. CO'S. 5TH ALL L.21 BL.24
Tax Annual Amount 768
Legal Description C. T. L. & I. CO'S. 5TH ALL L.21 BL.24

Utilities

Utilities Water Available
Sewer type Public Sewer
Heating system Baseboard, Hot Water(Heating)
Water source Public

Building Details

Year built 1922
Floors in Building 1
Listing Agency: Listing Leaders
Listed By: Katherine Stirling · License #RB19001959
Added: Jul 29 Changed: Aug 22 Last Checked: Sep 8 at 7:06PM
MLS# 843139

Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This residential property, built in 1922, is positioned as a triplex with the potential for three rental units. The layout includes a basement, while heating is provided through hot water and baseboard systems. The property sits on a 0.07-acre lot and offers on-street parking.

Located at 1531 Van Buren Street in Gary, Indiana, the property has access to public water and public sewer service. Water is available, and the surrounding area includes access to public transportation options, including the South Shore train. Lake Michigan and Hard Rock Casino are also identified in the surrounding context.

Key Highlights

  • Potential for three rental units
  • 0.07‑acre lot
  • Built in 1922

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Restaurant Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3
Residential units

Location Intelligence

Trade Area within ½ mile

456
Businesses Nearby

Demographics for 46407, IN

9,862
Population
6,644
Households
1.5
Avg Household Size
39
Median Age
11%
College-Educated
81%
High-School Grad
4.2 sq mi
ZIP Area
2,348
Density / Sq Mi
$25,551
Median Household Income
$28,504
Median Earnings
$807
Median Rent
$55,000
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Triplex - Residential property with potential for three rental units and public utilities in Gary.
Where is this triplex located?
The property is located at 1531 Van Buren Street Gary, IN.
What are key features of this property?
This property features: Potential for three rental units; 0.07‑acre lot; Built in 1922
More about this property
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