Apartment Building Portfolio with
For Sale
$650,000
7027 Parrish Ave, Hammond, IN 46323
Multifamily portfolio offering renovated apartments, varied unit layouts, and individual or package acquisition options.
Property Size5,220 SF
Price / SF$124.52
Days on Market101
Property Features for 7027 Parrish Ave
General Information
Standard status
Active
Size
5,220 SF
Property subtype
Commercial
Units
Unit Mix
4 x 3BR/2BA, 16 x 1BR/1BA
Multifamily Units
20
Additional Details
Highway Access
Yes
Building Details
Year Built
1978
Buildings
4
Listing Agency:
Ellsbury Group
Listed By:
Andrew Page
(219) 200-5133
Source:
Illianahomesource
Added: Jul 6
Changed: Oct 1
Last Checked: Oct 12 at 8:10PM
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 multifamily offering includes four apartment buildings, each arranged with five units. The recurring layout features one three-bedroom, two-bath residence alongside four one-bedroom, one-bath apartments, creating a consistent configuration across the portfolio. Fifteen of the 20 total units have received recent interior renovations. The buildings date to 1978.
The properties are located on the same block in Hammond, Indiana, at 7027 Parrish Ave, 7050 Idaho Ave, 7105 Parrish Ave, and 7100 Idaho Ave. Acquisition is available by individual building or as a combined portfolio, allowing purchasers to select a single asset or the full group.
The properties are located on the same block in Hammond, Indiana, at 7027 Parrish Ave, 7050 Idaho Ave, 7105 Parrish Ave, and 7100 Idaho Ave. Acquisition is available by individual building or as a combined portfolio, allowing purchasers to select a single asset or the full group.
Key Highlights
- Four apartment buildings with 20 total units
- Each building includes one 3‑bedroom, 2‑bath unit and four 1‑bedroom, 1‑bath units
- 15 of 20 units have been recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,182
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$923,640
$923.6K
Cap Rate 7%
$659,743
$659.7K
Cap Rate 9%
$513,133
$513.1K
Market Conditions
NOI Build-Up for 5,220 SF
Gross rent
$88.9K $17.04/SF
− Vacancy
−$5.0K −$0.95/SF
EGI
$84.0K $16.09/SF
− OpEx
−$37.8K −$7.24/SF
NOI
$46.2K $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%
$923,640
Cap Rate 7%
$659,743
Cap Rate 9%
$513,133
Alternative Uses
Best Use
Apartment 5plus
$659.7K
$577.3K – $769.7K
NOI $46,182 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,005 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
20
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 46323, IN
22,510
Population
8,955
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
85%
High-School Grad
6.2 sq mi
ZIP Area
3,631
Density / Sq Mi
$56,906
Median Household Income
$35,292
Median Earnings
$1,189
Median Rent
$149,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily portfolio offering renovated apartments, varied unit layouts, and individual or package acquisition options.
Where is this apartment building located?
The property is located at 7027 Parrish Ave Hammond, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four apartment buildings with 20 total units; Each building includes one 3‑bedroom, 2‑bath unit and four 1‑bedroom, 1‑bath units; 15 of 20 units have been recently renovated
