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6-Unit Apartment Building
New
For Sale
$400,000

1301 Pennsylvania St, Gary, IN 46407

The apartment mix includes one-, two-, and three-bedroom layouts.

Property Size6,435 SF
Price / SF$62.16
Days on Market7

Property Features for 1301 Pennsylvania St

General Information

Standard status Active
Size 6,435 SF
Property subtype Commercial

Building Details

Year Built 1927
Listing Agency: McColly Real Estate
Listed By: Mary Aaron · License #475149952
Source: Jason.northwestindianahomelistings
Added: Sep 24 Changed: Sep 29 Last Checked: Sep 30 at 12:37PM

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 McColly Real Estate

Investment Insights

Based on property information with market context.

This 5,798-square-foot apartment building was constructed in 1927 and contains six units: three one-bedroom apartments, two two-bedroom apartments, and one three-bedroom apartment. Four units are occupied. The property is being sold as-is.

At 1301 Pennsylvania St in Gary, the property is near casinos in East Chicago and Gary, RailCats Stadium, the Greyhound bus station, and South Shore Rail lines. Skyway and I-94 provide transportation connections in the surrounding area.

Key Highlights

  • Six apartments: 3 one‑bedroom, 2 two‑bedroom, and 1 three‑bedroom units
  • 4 of 6 units occupied
  • 5,798 square feet; built in 1927

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Dental Office HVAC Service Big Box & Wholesale Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

457
Businesses Nearby

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - The apartment mix includes one-, two-, and three-bedroom layouts.
Where is this apartment building located?
The property is located at 1301 Pennsylvania St Gary, IN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Six apartments: 3 one‑bedroom, 2 two‑bedroom, and 1 three‑bedroom units; 4 of 6 units occupied; 5,798 square feet; built in 1927
More about this property
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