Well-Maintained Four-Unit Apartment
5107 W 77th Court Schererville, IN 46375
For Sale
Contact for pricing
Four residential units with separate furnaces and water heaters, plus tenant-paid gas and electric.
Property Size3,112 SF
Lot Size0.28 Acres
Price / SF$176.74
Days on Market11
Property Features for 5107 W 77th Court
General Information
- Standard status
- Active
- Size
- 3,112 SF
- Lot size
- 0.28 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1974
Listing Agency:
Ellsbury Group
(219) 805-5200
Listed By:
Tariq Suboh · License #RB20000815
Source:
Crexi
Added: Jul 14
Changed: Jul 24
Last Checked: Jul 24 at 3:03AM
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 well-maintained four-unit multifamily property offers a practical rental mix of (2) 2-bedroom, 1-bath units and (2) 1-bedroom, 1-bath units. Each unit has its own furnace and water heater, supporting individual utility management. Tenants pay for gas and electric, while the owner is responsible for water, sewer, and trash.
The building sits on a 0.28-acre lot. The property is located in Schererville near shopping, dining, major employers, and commuter routes.
For buyers seeking a turn-key income-producing asset, the current structure and unit configuration provide an efficient setup for managed, long-term residential operations.
The building sits on a 0.28-acre lot. The property is located in Schererville near shopping, dining, major employers, and commuter routes.
For buyers seeking a turn-key income-producing asset, the current structure and unit configuration provide an efficient setup for managed, long-term residential operations.
Key Highlights
- 4‑unit multifamily property built in 1974
- Unit mix: (2) 2‑bedroom, 1‑bath and (2) 1‑bedroom, 1‑bath
- Each unit has its own furnace and water heater
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 | $53.0k | $17.04 |
| − Vacancy | −$3.0k | −$0.95 |
| EGI | $50.1k | $16.09 |
| − OpEx | −$22.5k | −$7.24 |
| NOI | $27.5k | $8.85 |
3,112 SF · lease $17.04/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$393.3K
$344.2K – $458.9K
NOI $27,532 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$868.7K
$760.2K – $1.01M
NOI $60,812 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Four residential units with separate furnaces and water heaters, plus tenant-paid gas and electric.
Where is this multifamily property located?
The property is located at 5107 W 77th Court Schererville, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4‑unit multifamily property built in 1974; Unit mix: (2) 2‑bedroom, 1‑bath and (2) 1‑bedroom, 1‑bath; Each unit has its own furnace and water heater
