Six-Unit Apartment
For Sale
$695,000
1104 169th St, Hammond, IN 46324
Multifamily property with shared laundry and individual heating and cooling systems.
Property Size4,050 SF
Price / SF$171.60
Days on Market86
Property Features for 1104 169th St
General Information
Standard status
Active
Size
4,050 SF
Units
Unit Mix
6 x 1BR
Multifamily Units
6
Amenities
common laundry room
Building Details
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
Rose Real Estate
Listed By:
Michael Larson
(219) 836-2400
Source:
Realtopiare
Added: Jul 21
Changed: Oct 4
Last Checked: Oct 7 at 3:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rose Real Estate
Investment Insights
Based on property information with market context.
This 6-unit apartment building contains six 1-bedroom residences within 4,050 square feet. The property was built in 1965 and has a 90 percent brick exterior, along with a common laundry room. Each apartment is equipped with baseboard heat and an individual air conditioning unit.
Three of the six apartments have been remodeled with updated flooring, light fixtures, plumbing fixtures, stainless steel kitchen appliances, and granite countertops. The property is located at 1104 169th St, Hammond, IN 46324.
Three of the six apartments have been remodeled with updated flooring, light fixtures, plumbing fixtures, stainless steel kitchen appliances, and granite countertops. The property is located at 1104 169th St, Hammond, IN 46324.
Key Highlights
- 6‑unit apartment building with six 1‑bedroom apartments
- 4,050 square feet; built in 1965
- 90 percent brick exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,831
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,620
$716.6K
Cap Rate 7%
$511,871
$511.9K
Cap Rate 9%
$398,122
$398.1K
Market Conditions
NOI Build-Up for 4,050 SF
Gross rent
$69.0K $17.04/SF
− Vacancy
−$3.9K −$0.95/SF
EGI
$65.1K $16.09/SF
− OpEx
−$29.3K −$7.24/SF
NOI
$35.8K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,620
Cap Rate 7%
$511,871
Cap Rate 9%
$398,122
Alternative Uses
Best Use
Apartment 5plus
$511.9K
$447.9K – $597.2K
NOI $35,831 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$989.3K – $1.32M
NOI $79,142 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 46324, IN
22,611
Population
9,427
Households
2.4
Avg Household Size
36
Median Age
15%
College-Educated
86%
High-School Grad
4.4 sq mi
ZIP Area
5,139
Density / Sq Mi
$61,118
Median Household Income
$38,457
Median Earnings
$1,157
Median Rent
$141,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with shared laundry and individual heating and cooling systems.
Where is this apartment building located?
The property is located at 1104 169th St Hammond, IN.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 6‑unit apartment building with six 1‑bedroom apartments; 4,050 square feet; built in 1965; 90 percent brick exterior
