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Renovated Triplex
For Sale
$215,000

1220 W 41st Ave, Gary, IN 46408

Three-unit property with recent renovations and two occupied units.

Property Size2,250 SF
Price / SF$95.56
Days on Market71

Property Features for 1220 W 41st Ave

General Information

Standard status Active
Size 2,250 SF
Property subtype Residential Income

Additional Details

Multifamily Units 3

Taxes and HOA fees

Annual Taxes $2,581
Listing Agency: Listing Leaders Affiliated
Listed By: Rebecca Olson
Source: Exprealty
Added: Jun 11 Changed: Aug 20 Last Checked: Aug 20 at 10:28AM

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 Listing Leaders Affiliated

Investment Insights

Based on property information with market context.

This 2,250-square-foot triplex contains three residential units that were recently renovated. The property is professionally managed, with two units currently occupied and the remaining unit being marketed, subject to tenants’ rights.

Located at 1220 W 41st Ave in Gary, IN, the property offers an existing multi-unit configuration with current tenancy and recent improvements.

Key Highlights

  • 2,250‑square‑foot triplex with 3 residential units
  • All 3 units were recently renovated
  • 2 units are currently tenanted

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Parking Lot & Garage Gym & Fitness Center Computer & Electronic Repair

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

322
Businesses Nearby

Demographics for 46408, IN

15,109
Population
7,861
Households
1.9
Avg Household Size
38
Median Age
12%
College-Educated
84%
High-School Grad
9.7 sq mi
ZIP Area
1,558
Density / Sq Mi
$47,063
Median Household Income
$35,163
Median Earnings
$1,016
Median Rent
$96,200
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 - Three-unit property with recent renovations and two occupied units.
Where is this triplex located?
The property is located at 1220 W 41st Ave Gary, IN.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 2,250‑square‑foot triplex with 3 residential units; All 3 units were recently renovated; 2 units are currently tenanted
More about this property
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