20-Unit Multifamily
For Sale
$2,900,000
2004 McCord Rd, Valparaiso, IN 46383
The portfolio combines two-bedroom layouts with private garages and unit-specific HVAC and water-heating equipment.
Property Size17,280 SF
Price / SF$167.82
Days on Market48
Property Features for 2004 McCord Rd
General Information
Standard status
Active
Size
17,280 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
Ellsbury Group
Listed By:
Tariq Suboh · License #475192080
(219) 805-5200
Source:
Nwindianahomesearcher
Added: Aug 19
Changed: Oct 1
Last Checked: Oct 5 at 6:52PM
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
Investment Insights
Based on property information with market context.
This multifamily portfolio includes five separately parceled, two-story buildings offered together, with 20 total two-bedroom, one-bath units averaging 864 SF. The buildings contain 17,280 SF across 1.52 acres and were built in 1986. Each building has a detached four-car garage, providing 20 private garage spaces with electric openers. Furnaces, A/C units, and water heaters are individual to each unit.
The properties are located at 2004 McCord Road and 1302, 1304, 1306, and 1308 Sturdy Road in Valparaiso, Indiana. Tenants pay water, sewer, trash, electric, and gas, while ownership handles common electric, lawn and snow care, insurance, taxes, and management. The stated expense ratio is 27.3 percent, and the going-in return is 7.31 percent.
The properties are located at 2004 McCord Road and 1302, 1304, 1306, and 1308 Sturdy Road in Valparaiso, Indiana. Tenants pay water, sewer, trash, electric, and gas, while ownership handles common electric, lawn and snow care, insurance, taxes, and management. The stated expense ratio is 27.3 percent, and the going-in return is 7.31 percent.
Key Highlights
- 20‑unit portfolio across five separately parceled buildings
- 17,280 SF of building area on 1.52 acres
- All units are two‑bedroom, one‑bath layouts averaging 864 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,223
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,744,460
$2.7M
Cap Rate 7%
$1,960,329
$2.0M
Cap Rate 9%
$1,524,700
$1.5M
Market Conditions
NOI Build-Up for 17,280 SF
Gross rent
$265.4K $15.36/SF
− Vacancy
−$15.9K −$0.92/SF
EGI
$249.5K $14.44/SF
− OpEx
−$112.3K −$6.50/SF
NOI
$137.2K $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%
$2,744,460
Cap Rate 7%
$1,960,329
Cap Rate 9%
$1,524,700
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,223 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$6.55M
$5.73M – $7.64M
NOI $458,448 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 46383, IN
41,981
Population
18,343
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
87.5 sq mi
ZIP Area
480
Density / Sq Mi
$75,575
Median Household Income
$43,065
Median Earnings
$1,144
Median Rent
$258,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The portfolio combines two-bedroom layouts with private garages and unit-specific HVAC and water-heating equipment.
Where is this multifamily property located?
The property is located at 2004 McCord Rd Valparaiso, IN.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 20‑unit portfolio across five separately parceled buildings; 17,280 SF of building area on 1.52 acres; All units are two‑bedroom, one‑bath layouts averaging 864 SF
