Townhome-Style Apartment
For Sale
$2,450,000
Pending
1326-40 Lake Charles Ave, Porter, IN 46304
Two-bedroom apartment units feature private outdoor areas, laundry hookups, and separately metered utilities across two properties.
Property Size21,280 SF
Lot Size1.69 Acres
Days on Market59
Property Features for 1326-40 Lake Charles Ave
General Information
Standard status
Pending
Size
21,280 SF
Lot size
1.69 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
16 x 2BR/1.5BA
Multifamily Units
16
Amenities
in-unit laundry hookups
private outdoor space
Building Details
Year Built
2000
Construction
townhome-style
Listing Agency:
Ellsbury Group
Listed By:
Tariq Suboh · License #475192080
(219) 200-5133
Source:
Jason.northwestindianahomelistings
Added: Aug 31
Changed: Oct 26
Last Checked: Oct 26 at 5:01PM
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
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Investment Insights
Based on property information with market context.
This apartment portfolio comprises 16 townhome-style units distributed between 1326-1340 Lake Charles Ave and 1365-1379 Lawson Ln. The properties contain approximately 21,280 square feet of building area on approximately 1.69 combined acres, with construction completed in 2000. Each residence offers a two-bedroom, 1.5-bath layout, in-unit laundry hookups, private outdoor space, and individually metered utilities. Residents are responsible for electric, gas, water/sewer, and trash service.
The Lawson Ln property includes six detached garage spaces. The portfolio is situated near I-94, US-20, the South Shore Line, and Indiana Dunes National Park, providing access to regional transportation and nearby recreational destinations. The sale includes both properties and all 16 units.
The Lawson Ln property includes six detached garage spaces. The portfolio is situated near I-94, US-20, the South Shore Line, and Indiana Dunes National Park, providing access to regional transportation and nearby recreational destinations. The sale includes both properties and all 16 units.
Key Highlights
- 16 townhome‑style apartment units across two properties
- Approximately 21,280 SF of total building area on approximately 1.69 combined acres
- All units offer 2 bedrooms and 1.5 baths
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
Yes
Highway access
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-bedroom apartment units feature private outdoor areas, laundry hookups, and separately metered utilities across two properties.
Where is this apartment building located?
The property is located at 1326-40 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 townhome‑style apartment units across two properties; Approximately 21,280 SF of total building area on approximately 1.69 combined acres; All units offer 2 bedrooms and 1.5 baths
