5-Unit Apartment
For Sale
$425,000
Pending
806 Maple Avenue, La Porte, IN 46350
Commercial Sale, La Porte, IN
Property Size4,061 SF
Lot Size0.16 Acres
Days on Market269
Property Features for 806 Maple Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
5
Subdivision
Wilsons First Add
Directions
Going east on lincolnway, turn right onto Michigan ave, then take another right onto maple ave and it is on your left.
Standard status
Pending
APN
460635486003000043
Size
4,061 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
05-06-35-486-003 WILSON 1ST 71 1/2 X 97 FT W SD LT 14
Tax Annual Amount
3710
Legal Description
05-06-35-486-003 WILSON 1ST 71 1/2 X 97 FT W SD LT 14
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1900
Listing Agency:
LaPorte County Realty, Inc.
(219) 324-4600
Listed By:
John Christodaulakis
(219) 242-2780
Added: Jan 20
Changed: Sep 13
Last Checked: Oct 16 at 12:06PM
MLS# 833044
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5-unit apartment building contains 4,061 square feet on a 0.1581-acre parcel at 806 Maple Avenue in La Porte, Indiana. Constructed in 1900, the property is served by central heating, public water, and public sewer. The lower level offers an identified opportunity for adding a studio unit, subject to applicable requirements and approvals.
The property is located near downtown La Porte, with shopping, dining, and major roadways described as nearby. Its existing multifamily configuration and potential lower-level expansion provide a clear framework for evaluating the asset as an apartment property.
The property is located near downtown La Porte, with shopping, dining, and major roadways described as nearby. Its existing multifamily configuration and potential lower-level expansion provide a clear framework for evaluating the asset as an apartment property.
Key Highlights
- 5‑unit apartment building
- 4,061 square feet on a 0.1581‑acre lot
- Lower level identified as a potential studio addition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,666
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,320
$653.3K
Cap Rate 7%
$466,657
$466.7K
Cap Rate 9%
$362,956
$363.0K
Market Conditions
NOI Build-Up for 4,061 SF
Gross rent
$60.9K $15.00/SF
− Vacancy
−$1.5K −$0.38/SF
EGI
$59.4K $14.63/SF
− OpEx
−$26.7K −$6.58/SF
NOI
$32.7K $8.04/SF
Area
LaPorte County, IN
Vacancy
2.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,320
Cap Rate 7%
$466,657
Cap Rate 9%
$362,956
Alternative Uses
Best Use
Apartment 5plus
$466.7K
$408.3K – $544.4K
NOI $32,666 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$987.9K – $1.32M
NOI $79,028 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 46350, IN
44,522
Population
19,576
Households
2.3
Avg Household Size
42
Median Age
24%
College-Educated
92%
High-School Grad
193.5 sq mi
ZIP Area
230
Density / Sq Mi
$75,311
Median Household Income
$44,309
Median Earnings
$920
Median Rent
$199,800
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 - Central heating and public utilities support this multifamily property in La Porte.
Where is this apartment building located?
The property is located at 806 Maple Avenue La Porte, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 5‑unit apartment building; 4,061 square feet on a 0.1581‑acre lot; Lower level identified as a potential studio addition
