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    1301 Pennsylvania St Gary, IN 46407

    Sponsored
    For Sale
    $469,000

    Six-unit apartment building, 100% occupied.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a six-unit apartment building located at 1301 Pennsylvania Street in Gary, Indiana. The property, identified by APN 45-08-10-158-001.000-004, sits on a 0.08-acre lot and is currently 100% occupied, offering immediate cash flow. The building comprises a mix of unit sizes, including two three-bedroom units and four two-bedroom units, catering to a diverse range of tenants. Recent renovations have enhanced the property's appeal and functionality. Each unit is equipped with separate heating and electric meters, providing efficient utility management and cost allocation. Financial details, including income and expense statements, are available upon request, allowing potential buyers to thoroughly assess the property's financial performance and investment potential. This corner lot location in Gary, Indiana (zip code 46407) offers excellent visibility and accessibility. This is a turnkey investment ready for a new owner. Don't miss this chance to acquire a well-maintained, high-occupancy multifamily property in a growing market.

    Property Features for 1301 Pennsylvania St

    General Information

    Property type
    Multifamily properties
    Lot Size
    3,485 SF

    Building Details

    Units
    6

    HighLights

    • Fully Leased 6‑Unit Multifamily Corner Building
    • Unit Mix: Two 3‑Bedroom & Four 2‑Bedroom Units
    • Recently Renovated
    • Financial Statements Available Upon Request
    • Individual Unit Electric & Heat Meters
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.33302291407
    Latitude
    41.590025934907

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, 100% occupied.
    Where is this multifamily property located?
    The property is located at 1301 Pennsylvania St Gary, IN.
    What is the asking price?
    The asking price for this property is $469,000.
    What are key features of this property?
    This property features: Fully Leased 6-Unit Multifamily Corner Building; Unit Mix: Two 3-Bedroom & Four 2-Bedroom Units; Recently Renovated
    Request Owner's contact information
    1301 Pennsylvania St Gary, IN 46407
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    Gary, IN 46407
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1301 Pennsylvania St Gary, IN 46407
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