6021-55 Mccasland Ave Portage, IN 46368
100-unit multifamily property in Portage, Indiana, with renovation upside.
Source:
33realty
Listing Agent: Sean Connelly
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Portage Multifamily Investment Opportunity
Canden Crossing is a 100-unit multifamily property in Portage, Indiana. The property, built in 1972 and 1980, features apartments that underwent a significant remodel between 2022 and 2023. The south side of the property includes four larger buildings with concrete balconies and open space. The north side features 13 smaller buildings in a wooded setting. The property offers convenient access to Chicago via rail or road, and to Northwest Indiana. It is located on the east side of Willowcreek Rd, north of I-80, within walking distance of shops, cafes, restaurants, and grocery stores, such as Mark O's Bar & Grill, Another Round Pizza, Big Time Burgers, Walgreens, Ace Hardware, Dunkin Donuts, and the Treatery. The property is serviced by the Metra commuter rail stop at the Portage/Ogden Dunes. It is a 5-minute drive to the Indiana Dunes and beaches. The location provides access to manufacturing, industrial management, production, and logistics job opportunities. The property has an attractive existing cash flow with opportunity to continue proven renovation strategy. The unit mix comprises 82 two-bedroom and 18 one-bedroom units. There is room to raise rents to market without rehab and additional rent attainable with continued rehab plan. The property has easy access to I-80 and the Portage - Ogden train stop. There are 203 surface parking spaces on site. The property is within a 50-minute drive from Midway International Airport. Each building has coin laundry. The property has separately metered electrical and electric baseboard heating. The construction is frame with brick exteriors.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Portage
- County
- Porter
- State
- Indiana
- Longitude
- -87.181891
- Latitude
- 41.581905
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 100-unit multifamily property in Portage, Indiana, with renovation upside.
Where is this apartment building located?
The property is located at 6021-55 Mccasland Ave Portage, IN.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: - Opportunity to increase Net Operating Income (NOI) through a proven renovation plan, building upon recent 2022-2023 remodel.; - **Excellent location** with easy access to the Portage/Ogden train stop for convenient access to Chicago, and proximity to I-80.; - Attractive existing cash flow with room to raise rents to market rates, both without rehab and with continued renovations.
