7-Unit Brick Apartment
New
For Sale
$620,000
1514 W 5th Avenue, Gary, IN 46402
Commercial Sale, Gary, IN
Property Size8,516 SF
Lot Size0.11 Acres
Price / SF$72.80
Days on Market3
Property Features for 1514 W 5th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
14
Parking features
Off Street, On Street
Basement
Unfinished, Storage Space
Subdivision
Gary Land Cos 3rd Sub
Lot features
Rectangular Lot
View
City
Elementary school district
Gary
Middle school district
Gary
High school district
Gary
Directions
Take 12/20 -5th Avenue West of Cline to Property which is on the North side of 5th just East of Grant St/Richard Hatcher Dr
Standard status
Active
APN
450804155012000004
Size
8,516 SF
Lot size
0.11 Acres
Additional Details
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Year
2024
Tax Description
RESUB. GARY LAND CO'S 3RD SUB. ALL L.4 BL.13
Tax Annual Amount
3687
Legal Description
RESUB. GARY LAND CO'S 3RD SUB. ALL L.4 BL.13
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
on street and off street parking
Building Details
Year built
1926
Buildings
1
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 738-2455
Listed By:
Richard Wolf
(219) 256-4437
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 4:06PM
MLS# 847157
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This three-story brick apartment building contains 7 units across 8,516 square feet. Most apartments have been renovated, and each unit has separate utilities. The property also includes a basement and was built in 1926.
Parking is available both on the street and off street. Shopping and public transit are nearby. Public water and sewer serve the building, and cable is available.
Parking is available both on the street and off street. Shopping and public transit are nearby. Public water and sewer serve the building, and cable is available.
Key Highlights
- 7‑unit, three‑story brick apartment building
- 8,516 square feet on a 0.109‑acre parcel
- Most units renovated; each has separate utilities
Property Analytics
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Lease Details
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 46402, IN
5,502
Population
3,360
Households
1.6
Avg Household Size
38
Median Age
10%
College-Educated
86%
High-School Grad
8.4 sq mi
ZIP Area
655
Density / Sq Mi
$29,125
Median Household Income
$30,816
Median Earnings
$904
Median Rent
$61,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated residences have individual utility services, with both curbside and on-site parking available.
Where is this apartment building located?
The property is located at 1514 W 5th Avenue Gary, IN.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 7‑unit, three‑story brick apartment building; 8,516 square feet on a 0.109‑acre parcel; Most units renovated; each has separate utilities
