22-Unit Apartment
For Sale
$2,650,000
321 Hoffman Court, Crown Point, IN 46307
MULTI_FAMILY - Crown Point, IN
Property Size11,868 SF
Lot Size1.33 Acres
Price / SF$223.29
Days on Market48
Property Features for 321 Hoffman Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
22
Parking features
Off Street
Exterior features
Lighting, Storage, Rain Gutters
Subdivision
Said Add
Lot features
Private
Directions
From Downtown CP; South on Court St to Walnut, Right on Walnut that shifts a bit at West St but stay on Walnut a few blocks to Hoffman St; Left on Hoffman which will veer around to the right to the parking area between bldgs
Standard status
Active
APN
451608155017000042
Size
11,868 SF
Lot size
1.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT. NW1/4 S.8 T.34 R.8 1.029AC.
Tax Annual Amount
12669
Legal Description
PT. NW1/4 S.8 T.34 R.8 1.029AC.
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1965
Additional Structures
Storage
Listing Agency:
Advanced Real Estate, LLC
(219) 595-2007
Listed By:
Craig Frendling
(219) 746-2693
Added: Jun 18
Changed: Jul 30
Last Checked: Aug 4 at 11:06AM
MLS# 840918
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.
Investment Insights
Based on property information with market context.
This 22-unit apartment building offers a single-acre development footprint with off-street parking. The property totals 11,868 square feet and was built in 1965. Building features include lighting, storage, and rain gutters. Heating is provided by forced air systems using natural gas.
Public water and public sewer service support the building’s utilities. Exterior access and operations are supported by off-street parking, and the site is described as located one block from the city’s Bulldog Park entertainment district.
The property is positioned for tenants seeking nearby access to downtown shopping, dining, events, and employers within the Crown Point area, with walkability highlighted in the remarks.
Public water and public sewer service support the building’s utilities. Exterior access and operations are supported by off-street parking, and the site is described as located one block from the city’s Bulldog Park entertainment district.
The property is positioned for tenants seeking nearby access to downtown shopping, dining, events, and employers within the Crown Point area, with walkability highlighted in the remarks.
Key Highlights
- 22 units in a single apartment building
- 1.334‑acre site with 11,868 square feet total building area
- One block from Bulldog Park entertainment district
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $202.2k | $17.04 |
| − Vacancy | −$11.3k | −$0.95 |
| EGI | $190.9k | $16.09 |
| − OpEx | −$85.9k | −$7.24 |
| NOI | $105.0k | $8.85 |
11,868 SF · lease $17.04/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,998 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.87M
NOI $231,916 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
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 - 22-unit multifamily property with off-street parking and public water and sewer in Crown Point near Bulldog Park.
Where is this apartment building located?
The property is located at 321 Hoffman Court Crown Point, IN.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 22 units in a single apartment building; 1.334‑acre site with 11,868 square feet total building area; One block from Bulldog Park entertainment district
