16-Unit Townhome Apartment
For Sale
Contact for pricing
Pending
1326-1340 Lake Charles Ave, Porter, IN 46304
Two-story townhome buildings feature private rear decks, open living levels, and in-unit washer and dryer hookups.
Property Size21,280 SF
Lot Size1.69 Acres
Days on Market58
Property Features for 1326-1340 Lake Charles Ave
General Information
Standard status
Pending
Size
21,280 SF
Total Parking Spaces
6
Lot size
1.69 Acres
Property subtype
Multifamily
Occupancy
94%
Financials
Asking Price
$2,450,000
Cap Rate
7.05%
Average Monthly Rent
$1,328
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
16 x 2BR/1.5BA
Multifamily Units
16
Amenities
in-unit washer/dryer hookups
private rear deck
Building Details
Buildings
2
Stories
2
Abandoned
No
Listing Agency:
Ellsbury Group
Listed By:
Tariq Suboh · License #475192080
(219) 200-5133
Source:
Crexi
Added: Sep 1
Changed: Oct 27
Last Checked: Oct 28 at 7:50AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 16-unit apartment property consists of two adjacent, individually metered two-story townhome buildings at 1326–1340 Lake Charles Ave and 1365–1379 Lawson Lane. Each residence offers two bedrooms, 1.5 baths, an open main level, private rear deck, and washer and dryer hookups. The buildings contain 21,280 building SF on 1.69 acres, with six detached garage spaces included at Lawson Lane.
Fifteen of the sixteen units are leased. Tenants are responsible for electric, gas, water/sewer, and trash service. The property is positioned minutes from I-94, US-20, and the Dune Park South Shore station, with the Indiana Dunes nearby. The offering includes two Porter County parcels under a single ownership structure.
Fifteen of the sixteen units are leased. Tenants are responsible for electric, gas, water/sewer, and trash service. The property is positioned minutes from I-94, US-20, and the Dune Park South Shore station, with the Indiana Dunes nearby. The offering includes two Porter County parcels under a single ownership structure.
Key Highlights
- 16 two‑bedroom, 1.5‑bath townhome units
- 21,280 building SF across two adjacent buildings
- 1.69 acres spanning two Porter County parcels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$168,987
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,379,740
$3.4M
Cap Rate 7%
$2,414,100
$2.4M
Cap Rate 9%
$1,877,633
$1.9M
Market Conditions
NOI Build-Up for 21,280 SF
Gross rent
$326.9K $15.36/SF
− Vacancy
−$19.6K −$0.92/SF
EGI
$307.2K $14.44/SF
− OpEx
−$138.3K −$6.50/SF
NOI
$169.0K $7.94/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,379,740
Cap Rate 7%
$2,414,100
Cap Rate 9%
$1,877,633
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.82M
NOI $168,987 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$8.07M
$7.06M – $9.41M
NOI $564,570 @ 7.0% cap · market cap 23.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
16
Residential units
93.8%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 46304, IN
26,835
Population
11,521
Households
2.3
Avg Household Size
41
Median Age
35%
College-Educated
96%
High-School Grad
57.8 sq mi
ZIP Area
464
Density / Sq Mi
$88,551
Median Household Income
$52,704
Median Earnings
$1,169
Median Rent
$278,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story townhome buildings feature private rear decks, open living levels, and in-unit washer and dryer hookups.
Where is this apartment building located?
The property is located at 1326-1340 Lake Charles Ave Porter, IN.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 16 two‑bedroom, 1.5‑bath townhome units; 21,280 building SF across two adjacent buildings; 1.69 acres spanning two Porter County parcels
