All-Brick Multi-Unit Apartment
For Sale
$225,000
1971 Massachusetts Street, Gary, IN 46407
All-brick multifamily building with five units, varied layouts, high ceilings, and a newer roof.
Property Size3,096 SF
Price / SF$72.67
Days on Market286
Property Features for 1971 Massachusetts Street
General Information
Standard status
Active
Size
3,096 SF
Property subtype
Commercial Sale / Multi Family
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$1,590
Amenities
Asphalt
Yes
Carpet, Vinyl, Tile
Forced Air
Gas Range, Refrigerator
Daylight, Walk-Out Access, Partially Finished
High Ceilings, Soaking Tub, Laminate Counters
Lighting, Rain Gutters
Brick
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Penny P Properties, LLC
Listed By:
Panagiota Papadatos · License #RB14047437
(219) 627-1800
Source:
Compass
Added: Nov 23, 2025
Changed: Aug 8
Last Checked: Jul 21 at 4:10AM
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 Penny P Properties, LLC
Investment Insights
Based on property information with market context.
This all-brick multifamily apartment building is configured with five units: two one-bedroom units, two two-bedroom units, and one three-bedroom unit. The units feature high ceilings and include separate sitting and dining areas, with one-bedroom units also offering a small bonus room. High-efficiency furnaces are installed, and the roof is reported as newer, installed a couple years ago.
The property also presents an opportunity for additional on-site income through coin-operated laundry.
With a mix of one-, two-, and three-bedroom layouts, the building offers varied unit sizes within a single residential income asset.
The property also presents an opportunity for additional on-site income through coin-operated laundry.
With a mix of one-, two-, and three-bedroom layouts, the building offers varied unit sizes within a single residential income asset.
Key Highlights
- All‑brick 5‑unit multifamily building with varied unit layouts, built in 1920
- Unit mix includes 2 one‑bedroom, 2 two‑bedroom, and 1 three‑bedroom unit
- High ceilings throughout; some units feature a sitting area and dining area
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - All-brick multifamily building with five units, varied layouts, high ceilings, and a newer roof.
Where is this apartment building located?
The property is located at 1971 Massachusetts Street Gary, IN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: All‑brick 5‑unit multifamily building with varied unit layouts, built in 1920; Unit mix includes 2 one‑bedroom, 2 two‑bedroom, and 1 three‑bedroom unit; High ceilings throughout; some units feature a sitting area and dining area
