8-Unit Apartment
For Sale
$649,000
4104 Hohman Ave, Hammond, IN 46327
The building combines updated interiors with a mix of studio and one-bedroom apartments.
Property Size4,017 SF
Price / SF$161.56
Days on Market42
Property Features for 4104 Hohman Ave
General Information
Standard status
Active
Size
4,017 SF
Property subtype
Commercial
Units
Unit Mix
6 x 1BR/1BA, 2 x studio
Multifamily Units
8
Building Details
Year Built
1970
Listing Agency:
Ellsbury Group
Listed By:
Andrew Page
(630) 418-3093
Source:
Jason.northwestindianahomelistings
Added: Sep 23
Changed: Nov 3
Last Checked: Nov 3 at 2:51PM
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
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Investment Insights
Based on property information with market context.
This 8-unit apartment building at 4104 Hohman Ave in Hammond contains 4,017 square feet and was built in 1970. The unit mix includes six one-bedroom, one-bath apartments and two studios. Six apartments have updated interior finishes; the remaining two have not been updated, presenting a distinct condition contrast within the building.
The property is in Hammond, Indiana, near major highways, employment centers, shopping, and the Illinois state line. Its location offers access to the greater Chicagoland area.
The property is in Hammond, Indiana, near major highways, employment centers, shopping, and the Illinois state line. Its location offers access to the greater Chicagoland area.
Key Highlights
- Eight apartments: six one‑bedroom, one‑bath units and two studios
- 4,017 square feet; built in 1970
- Interior finishes updated in six of the eight units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,539
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,780
$710.8K
Cap Rate 7%
$507,700
$507.7K
Cap Rate 9%
$394,878
$394.9K
Market Conditions
NOI Build-Up for 4,017 SF
Gross rent
$68.4K $17.04/SF
− Vacancy
−$3.8K −$0.95/SF
EGI
$64.6K $16.09/SF
− OpEx
−$29.1K −$7.24/SF
NOI
$35.5K $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%
$710,780
Cap Rate 7%
$507,700
Cap Rate 9%
$394,878
Alternative Uses
Best Use
Apartment 5plus
$507.7K
$444.2K – $592.3K
NOI $35,539 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.12M
$981.2K – $1.31M
NOI $78,497 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
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Business Placement
Demographics for 46327, IN
11,078
Population
4,389
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
77%
High-School Grad
4.6 sq mi
ZIP Area
2,408
Density / Sq Mi
$50,457
Median Household Income
$30,939
Median Earnings
$1,133
Median Rent
$116,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The building combines updated interiors with a mix of studio and one-bedroom apartments.
Where is this apartment building located?
The property is located at 4104 Hohman Ave Hammond, IN.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Eight apartments: six one‑bedroom, one‑bath units and two studios; 4,017 square feet; built in 1970; Interior finishes updated in six of the eight units
