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Portage Townhome Units For Sale

2581 Parkview St, Portage, IN 46368

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Eight fully occupied townhome units in Portage, Indiana.

Type:Multifamily

Property size:

10,560 SF

Price / SF:

$122/SF

HighLights

Fully occupied multi‑unit townhome property generating over $143,000 in gross annual rental income.
Projected gross annual rental income exceeding $168,000 once all units are at market rent.
Operating at a true 7% cap rate based on actual performance, projecting to approximately 8.4% at market rents.
Rare opportunity to acquire eight townhome units in Portage, Indiana.
Each unit features a spacious three‑bedroom, one‑and‑a‑half‑bath layout.
Each unit includes a private fenced back patio.

We can help!

Contact an agent

Tariq Suboh

For Sale

Contact for pricing

Eight fully occupied townhome units in Portage, Indiana.

Type:Multifamily

Property size:

10,560 SF

Price / SF:

$122/SF

Added:: Feb 25, 2026
Days on Market:: 133
Last Refresh:: Jun 27 at 12:27 am

Property Features for 2581 Parkview St

General Information

Standard status: Active
Size: 10,560 SF
Property subtype: Multifamily

Building Details

Year Built: 1989

We can help!

Contact an agent

Tariq Suboh

Listing office Ellsbury Group

Listing date Feb 25, 2026

Source Crexi

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

HighLights

Fully occupied multi‑unit townhome property generating over $143,000 in gross annual rental income.
Projected gross annual rental income exceeding $168,000 once all units are at market rent.
Operating at a true 7% cap rate based on actual performance, projecting to approximately 8.4% at market rents.
Rare opportunity to acquire eight townhome units in Portage, Indiana.
Each unit features a spacious three‑bedroom, one‑and‑a‑half‑bath layout.
Each unit includes a private fenced back patio.

Overview

This property features eight townhome units located in Portage, Indiana. Each unit offers a three-bedroom, one-and-a-half-bath layout, complemented by a private, fenced back patio. Tenants are responsible for covering the costs of gas and electric utilities, while the property ownership handles water and trash services. The property generates over $143,000 in gross annual rental income. Projections indicate that the income could exceed $168,000 once all units are brought to market rent. The property is currently operating at a true 7% cap rate based on actual performance and projects to approximately an 8.4% cap rate at market rents with updated pro forma expenses. The property size is 10560 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$162.2k	$15.36
− Vacancy	−$9.7k	−$0.92
EGI	$152.5k	$14.44
− OpEx	−$68.6k	−$6.50
NOI	$83.9k	$7.94

10,560 SF · lease $15.36/SF/yr · vacancy 6.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,858 @ 7.0% cap · market cap 6.48%

Second Best

—

no second resolved use

Theoretical Best

Healthcare Medical

$4.00M

$3.50M – $4.67M (±1% cap)

NOI $280,163 @ 7.0% cap · market cap 21.63%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Portage
County: Porter
State: Indiana
Longitude: -87.16496
Latitude: 41.576746

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For sale
Apartment buildings
IN
Portage
46368
2581 Parkview St

What type of property is this?

Apartment building - Eight fully occupied townhome units in Portage, Indiana.

Where is this apartment building located?

The property is located at 2581 Parkview St Portage, IN.

What is the asking price?

The asking price for this property is $1,295,000.

What are key features of this property?

This property features: Fully occupied multi‑unit townhome property generating over $143,000 in gross annual rental income.; Projected gross annual rental income exceeding $168,000 once all units are at market rent.; Operating at a true 7% cap rate based on actual performance, projecting to approximately 8.4% at market rents.