8-Unit Brick Apartment
630 Shelby Place, Hobart, IN 46342
For Sale
Contact for pricing
Laundry machines and off-street parking serve this multi-story residential property.
Property Size8,000 SF
Lot Size0.37 Acres
Price / SF$140
Days on Market35
Property Features for 630 Shelby Place
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Amenities
laundry machines
Building Details
Buildings
Construction
Listing Agency:
Horvath & Tremblay
Listed By:
Anthony Spangler · License IL #475173833
(312) 533-8899
Source:
Crexi
Added: Oct 6
Changed: Nov 8
Last Checked: Nov 8 at 4:13PM
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 Horvath & Tremblay
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-story brick apartment building contains eight one-bedroom, one-bathroom units. The property includes 6,500 square feet of gross living area within 8,000 square feet of gross area. Laundry machines are on site, and the 0.37-acre parcel provides 16 off-street parking spaces.
Located in Hobart, the property has access to U.S. Route 6, Indiana State Road 51, and Interstate 65. The surrounding area includes established residential neighborhoods, retail corridors, and employment centers, with regional routes connecting to Northwest Indiana and the greater Chicago metropolitan area.
Located in Hobart, the property has access to U.S. Route 6, Indiana State Road 51, and Interstate 65. The surrounding area includes established residential neighborhoods, retail corridors, and employment centers, with regional routes connecting to Northwest Indiana and the greater Chicago metropolitan area.
Key Highlights
- Eight 1‑bedroom/1‑bathroom apartments in a multi‑story brick building
- 6,500 square feet of gross living area and 8,000 square feet of gross area
- 0.37‑acre parcel with 16 off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,777
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,540
$1.4M
Cap Rate 7%
$1,011,100
$1.0M
Cap Rate 9%
$786,411
$786.4K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$136.3K $17.04/SF
− Vacancy
−$7.6K −$0.95/SF
EGI
$128.7K $16.09/SF
− OpEx
−$57.9K −$7.24/SF
NOI
$70.8K $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%
$1,415,540
Cap Rate 7%
$1,011,100
Cap Rate 9%
$786,411
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$884.7K – $1.18M
NOI $70,777 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.61M
NOI $156,330 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Explore this area
Business Placement
Demographics for 46342, IN
32,540
Population
13,774
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
35.0 sq mi
ZIP Area
930
Density / Sq Mi
$72,163
Median Household Income
$41,574
Median Earnings
$1,110
Median Rent
$193,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Lake County, IN
Properties on Market for Apartment buildings in Lake County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Laundry machines and off-street parking serve this multi-story residential property.
Where is this apartment building located?
The property is located at 630 Shelby Place Hobart, IN.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: Eight 1‑bedroom/1‑bathroom apartments in a multi‑story brick building; 6,500 square feet of gross living area and 8,000 square feet of gross area; 0.37‑acre parcel with 16 off‑street parking spaces
