Townhome-Style Multifamily
1230-1256 Lake Charles Ave, Porter, IN 46304
Twelve 2-bedroom units with private decks, in-unit laundry hookups, and tenant-paid utilities for manageable operations.
Type:Multifamily
Property size:
15,960 SFPrice / SF:
$109/SF- Added:
- Jun 17, 2026
- Days on Market:
- 11
- Last Refresh:
- Jun 24 at 8:16 am
Property Features for 1230-1256 Lake Charles Ave
General Information
- Standard status
- Active
- Size
- 15,960 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1995
Listing office Ellsbury Group
Listing date Jun 17, 2026
Source Crexi
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 Ellsbury Group
HighLights
- 12‑unit townhome‑style multifamily built in 1995, with twelve 2‑bedroom, 1.5‑bath units
- Each unit averages about 1,330 SF and includes a private deck and in‑unit laundry hookups
- Individual HVAC systems for each unit and detached garage parking included
- Tenant‑paid utilities include electric, gas, water/sewer, and trash to help reduce owner operating expenses
- Recent improvements: roof replacement and parking lot resurfacing, plus ongoing mechanical updates
Overview
This 12-unit townhome-style multifamily property in Porter, Indiana is configured as twelve 2-bedroom, 1.5-bath units. Each unit includes a private deck, in-unit laundry hookups, and an individual HVAC system. Parking is supported through access to detached garage parking.
The property has had recent improvements that include roof replacement, parking lot resurfacing, and ongoing mechanical updates. Tenants are responsible for electric, gas, water/sewer, and trash, which can help limit recurring utility expenses for the owner. The building is located minutes from I-94, US-20, the South Shore Line, and Indiana Dunes National Park.
For investors or buyers seeking a manageable small multifamily footprint, the unit layout is consistent across all 12 homes, with dedicated HVAC and in-unit laundry hookups that support day-to-day tenant convenience. The private decks provide additional private outdoor space, while detached garage parking helps accommodate tenants’ vehicles. With documented exterior and parking improvements, this asset offers a practical, update-informed option for adding to a rental portfolio.
The property has had recent improvements that include roof replacement, parking lot resurfacing, and ongoing mechanical updates. Tenants are responsible for electric, gas, water/sewer, and trash, which can help limit recurring utility expenses for the owner. The building is located minutes from I-94, US-20, the South Shore Line, and Indiana Dunes National Park.
For investors or buyers seeking a manageable small multifamily footprint, the unit layout is consistent across all 12 homes, with dedicated HVAC and in-unit laundry hookups that support day-to-day tenant convenience. The private decks provide additional private outdoor space, while detached garage parking helps accommodate tenants’ vehicles. With documented exterior and parking improvements, this asset offers a practical, update-informed option for adding to a rental portfolio.
Local Financial Insights For Apartment 5plus
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 | $245.1k | $15.36 |
| − Vacancy | −$14.7k | −$0.92 |
| EGI | $230.4k | $14.44 |
| − OpEx | −$103.7k | −$6.50 |
| NOI | $126.7k | $7.94 |
15,960 SF · lease $15.36/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.58M – $2.11M
NOI $126,740 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$6.05M
$5.29M – $7.06M
NOI $423,428 @ 7.0% cap · market cap 24.20%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Porter
- County
- Porter
- State
- Indiana
- Longitude
- -87.090611
- Latitude
- 41.6134211
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Twelve 2-bedroom units with private decks, in-unit laundry hookups, and tenant-paid utilities for manageable operations.
Where is this apartment building located?
The property is located at 1230-1256 Lake Charles Ave Porter, IN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 12‑unit townhome‑style multifamily built in 1995, with twelve 2‑bedroom, 1.5‑bath units; Each unit averages about 1,330 SF and includes a private deck and in‑unit laundry hookups; Individual HVAC systems for each unit and detached garage parking included
