704 N Oakwood Drive, Griffith, IN 46319
MULTI_FAMILY - Griffith, IN
- Added:
- Jun 15, 2026
- Days on Market:
- 6
- Last Refresh:
- Jun 20 at 6:06 am
Property Features for 704 N Oakwood Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Basement, Bedroom 1, Bathroom 1, Bedroom 2
- Parking features
- Driveway
- Basement
- Finished, Full
- Standard status
- Active
- APN
- 450735226047000006
- Lot size
- 0.39 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- NAZARENE ADD. TO GRIFFITH LOT 4
- Tax Annual Amount
- 5792
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1968
- Floors in Building
- 1
Listing agent Larry Wilson (219) 688-0521
Listing office Home Connection Realty, Inc. 3321 Michigan Street, Hobart, IN (219) 962-7677
Listing date Jun 15, 2026
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.
HighLights
- 2‑unit limestone ranch with 2,176 SF, a full basement, and a 3‑car garage
- Unit mix includes 1 studio and 1 upstairs unit with 2 bedrooms
- Finished basement includes a 3/4 bath, offering additional living or rental space
- Basement can be converted into another unit or property can be converted back to single‑family
- Utilities include public water and public sewer, with natural gas forced‑air heat
- Driveway parking
Overview
Located at 704 N Oakwood Drive in Griffith, Indiana (Lake County), the layout supports multi-tenant use while maintaining the feel of a single residential property. The combination of two separate upstairs living areas and a finished basement gives owners several ways to structure day-to-day occupancy.
For tenants, the mix of unit types can support different household needs, including studio living and a dedicated two-bedroom option. For an owner-operator or investor, the finished basement and full basement foundation create straightforward pathways to adjust configuration over time, including converting the basement to additional living space or returning the property to a single-family setup, depending on your goals.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.6k | $15.00 |
| − Vacancy | −$1.7k | −$0.80 |
| EGI | $30.9k | $14.20 |
| − OpEx | −$9.3k | −$4.26 |
| NOI | $21.6k | $9.94 |
Alternative Uses
Current Use by Public Records
Map
- City
- Griffith
- County
- Lake
- State
- Indiana
- Longitude
- -87.417109
- Latitude
- 41.533844
