5-Unit Brick Apartment
For Sale
$549,000
Pending
1820 Davis Ave, Whiting, IN 46394
Renovated apartments with garage rentals and a coin-operated laundry facility.
Property Size2,718 SF
Days on Market370
Property Features for 1820 Davis Ave
General Information
Standard status
Pending
Size
2,718 SF
Property subtype
Commercial
Additional Details
Multifamily Units
5
Amenities
coin-operated laundry
Building Details
Year Built
1965
Buildings
1
Construction
all-brick
Listing Agency:
Grinker & Garcia Real Estate
Listed By:
Rigoberto Garcia · License #471018167
(773) 731-9303
Source:
Nwindianahomesearcher
Added: Oct 15, 2025
Changed: Oct 1
Last Checked: Oct 19 at 7:23AM
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 Grinker & Garcia Real Estate
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.
Constructed in 1965, this five-unit apartment building has an all-brick exterior and updated interiors throughout. Each residence has been renovated, and the property includes a coin-operated laundry facility along with garage rentals that provide additional revenue streams.
The building is located in Whiting, Indiana, minutes from Lake Michigan and downtown Chicago. Operating history includes low vacancy rates and long-term tenants, supporting an established rental profile.
The building is located in Whiting, Indiana, minutes from Lake Michigan and downtown Chicago. Operating history includes low vacancy rates and long-term tenants, supporting an established rental profile.
Key Highlights
- Five‑unit apartment building with an all‑brick exterior
- Built in 1965 and fully updated
- Each apartment has been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,047
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,940
$480.9K
Cap Rate 7%
$343,529
$343.5K
Cap Rate 9%
$267,189
$267.2K
Market Conditions
NOI Build-Up for 2,718 SF
Gross rent
$46.3K $17.04/SF
− Vacancy
−$2.6K −$0.95/SF
EGI
$43.7K $16.09/SF
− OpEx
−$19.7K −$7.24/SF
NOI
$24.0K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,940
Cap Rate 7%
$343,529
Cap Rate 9%
$267,189
Alternative Uses
Best Use
Apartment 5plus
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$758.8K
$663.9K – $885.2K
NOI $53,113 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 46394, IN
11,725
Population
5,437
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
86%
High-School Grad
4.7 sq mi
ZIP Area
2,495
Density / Sq Mi
$66,386
Median Household Income
$41,643
Median Earnings
$970
Median Rent
$162,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartments with garage rentals and a coin-operated laundry facility.
Where is this apartment building located?
The property is located at 1820 Davis Ave Whiting, IN.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Five‑unit apartment building with an all‑brick exterior; Built in 1965 and fully updated; Each apartment has been renovated
