Six-Unit Multifamily
For Sale
$350,000
1412 Connecticut, Gary, IN 46407
Stabilized six-unit building with one vacancy, on-site digital laundry, and a garage, plus two adjacent lots included.
Property Size4,200 SF
Days on Market153
Property Features for 1412 Connecticut
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Multifamily
Occupancy
83%
Additional Details
Multifamily Units
6
Building Details
Building Size
4,200 SF
Year Built
1929
Tenancy
Multi
Listing Agency:
(773) 293-5031
Listed By:
Michael Julius · License ##475.185903
Source:
Kisergroup
Added: Apr 2
Changed: Aug 31
Last Checked: Aug 31 at 1:27PM
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 Michael Julius
Investment Insights
Based on property information with market context.
Kiser Group presents a stabilized six-unit multifamily investment opportunity in Gary, Indiana. The property has maintained strong performance over time, with light renovations completed as units turn. Updates include updated mechanical systems, while the building also retains much of its original character. The unit mix features a distinctive basement apartment, adding variety to the overall layout.
The offering includes an on-site digital laundry facility and a garage currently used for tenant parking and storage. Two adjacent lots are included in the sale, expanding the property’s included footprint. Several tenants are currently paying below applicable Section 8 fair market rent levels, creating an opportunity for new ownership to align rents with voucher benchmarks as natural turnover occurs, while maintaining strong occupancy supported by consistent demand for affordable housing.
The offering includes an on-site digital laundry facility and a garage currently used for tenant parking and storage. Two adjacent lots are included in the sale, expanding the property’s included footprint. Several tenants are currently paying below applicable Section 8 fair market rent levels, creating an opportunity for new ownership to align rents with voucher benchmarks as natural turnover occurs, while maintaining strong occupancy supported by consistent demand for affordable housing.
Key Highlights
- Six‑unit multifamily building in Gary, IN with only one vacancy and stabilized in‑place occupancy
- Year built 1929; units have been well maintained with light renovations completed as units turn
- Includes a distinctive basement apartment and a unique unit mix while retaining original character
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
83.3%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 46407, IN
9,862
Population
6,644
Households
1.5
Avg Household Size
39
Median Age
11%
College-Educated
81%
High-School Grad
4.2 sq mi
ZIP Area
2,348
Density / Sq Mi
$25,551
Median Household Income
$28,504
Median Earnings
$807
Median Rent
$55,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized six-unit building with one vacancy, on-site digital laundry, and a garage, plus two adjacent lots included.
Where is this apartment building located?
The property is located at 1412 Connecticut Gary, IN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Six‑unit multifamily building in Gary, IN with only one vacancy and stabilized in‑place occupancy; Year built 1929; units have been well maintained with light renovations completed as units turn; Includes a distinctive basement apartment and a unique unit mix while retaining original character
