Brick Three-Unit Residential
532 Connecticut Street Gary, IN 46402
532 Connecticut Street, Gary, IN, 46402
$450,000
For Sale
$450,000
Three-unit brick property with two full bathrooms per floor and private back porches for each unit.
Property Size4,005 SF
Price / SF$112.36
Days on Market101
Property Features for 532 Connecticut Street
General Information
- Standard status
- Active
- Size
- 4,005 SF
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1913
Listing agency
Premier Midwest Realty, INC
(219) 678-3710
Listed by
Johnette Gore
(219) 678-3710
Source
Compass
Added: Apr 12 Updated: Jul 20 at 7:15PM Checked: Jul 21 at 6:45AM
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 Premier Midwest Realty, INC
Investment Insights
Based on property information with market context.
Brick three-unit residential building presented for sale. The property is arranged as a three-unit configuration with multiple levels, and each level features a generous layout including two bedrooms, two full bathrooms, walk-in closets, a living room, dining room, kitchen, and a private back porch.
Located at 532 Connecticut Street in Gary, IN 46402, this multifamily property provides a straightforward residential income setup with consistent unit programming across each level. Arrange a showing to review the interior finishes and confirm the best fit for your occupancy and leasing plans.
Located at 532 Connecticut Street in Gary, IN 46402, this multifamily property provides a straightforward residential income setup with consistent unit programming across each level. Arrange a showing to review the interior finishes and confirm the best fit for your occupancy and leasing plans.
Key Highlights
- Three‑unit brick property built in 1913
- Each unit offers over 1,300 SF per level with 2 bedrooms and 2 full bathrooms per floor
- Bedrooms include walk‑in closets, plus living room, dining room, and kitchen
Local Financial Insights For Multifamily LT 5
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 | $60.1k | $15.00 |
| − Vacancy | −$3.2k | −$0.80 |
| EGI | $56.9k | $14.20 |
| − OpEx | −$17.1k | −$4.26 |
| NOI | $39.8k | $9.94 |
4,005 SF · lease $15.00/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$568.8K
$497.7K – $663.6K
NOI $39,815 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$506.2K
$442.9K – $590.6K
NOI $35,433 @ 7.0% cap · market cap 7.87%
Theoretical Best
Specialty Retail
$1.12M
$978.3K – $1.30M
NOI $78,263 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strategic Technology Solutions ...
Business Management Consultant
Sterling Energy Group, ...
Corporate Office
Harrington Properties Inc
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit brick property with two full bathrooms per floor and private back porches for each unit.
Where is this triplex located?
The property is located at 532 Connecticut Street Gary, IN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit brick property built in 1913; Each unit offers over 1,300 SF per level with 2 bedrooms and 2 full bathrooms per floor; Bedrooms include walk‑in closets, plus living room, dining room, and kitchen
