Gary, IN Multifamily Properties for Sale

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Updated: Apr 6

Gary Multifamily Investment Opportunity

2315 Industrial Boulevard, Gary, IN 46407

$499,900

6,457 sqft 0.22 AC lot

High‑potential multifamily asset with 6 units on one lot in a prime location.
Zoned for up to 9 units, offering a significant opportunity for expansion.
Vacant units provide flexibility for immediate renovation, leasing, or redevelopment strategies.
Main 5‑unit building features spacious 989 sqft apartments with 2 bedrooms, 1 bathroom, and 10' ceilings.
Updated HVAC systems and renovated units in the 5‑unit building provide a strong foundation for immediate income production.

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Updated: May 5

Updated Duplex in Gary, Indiana

2023 Vermont Street, Gary, IN 46407

$179,900

0.21 AC lot

Two income‑producing units with an existing Airbnb setup
Each unit has 2 bedrooms, a living room, kitchen, full bath, and a laundry area
Natural gas forced‑air heating
Appliances include a gas range and refrigerator
Public water and public sewer

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Updated Two-Unit Duplex

5512 Washington Street, Merrillville, IN 46410

$345,000

0.23 AC lot

Each side offers 2 bed, 1 bath living space with attached garages and recent interior updates.

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Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center

Two-Unit Income Property

351-353 Fillmore Street, Gary, IN 46402

$159,900

0.10 AC lot

Remodeled duplex with two similar units, each offering two bedrooms, a full bath, kitchen, living room, and basement.

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Spacious Remodeled Duplex in Merrillville

7932-7934 Whitcomb Street, Merrillville, IN 46410

$569,000

0.41 AC lot

Remodeled duplex with multi-generational living or investment potential.

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All-Brick Duplex with Two Units

3725 Monroe Street, Gary, IN 46408

$139,900

0.07 AC lot

All-brick two-unit duplex featuring a 3-bedroom and a 2-bedroom layout, sold as-is.

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Bi-Level Duplex For Sale

1297-1299 W 15th Avenue, Gary, IN 46407

$97,500

0.16 AC lot

Two bi-level units offer an as-is, renovation-minded duplex setup for income-focused buyers and investors.

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Multifamily Investment Property

3685 Massachusetts Street, Gary, IN 46409

$94,000

0.11 AC lot

Roof is a couple of years old, and some new windows have been installed on this multifamily property.

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Four-Unit Multifamily Income Property

126 E 73rd Avenue, Merrillville, IN 46410

$399,900

Four 1 bed/1 bath units with individual central air, tenant-paid utilities, and in-unit laundry hookups.

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Two-Unit Duplex Investment

1937 Martin Luther King Drive, Gary, IN 46407

Contact for pricing

0.10 AC lot

Two-unit residential income property sold as-is with cash offers only.

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3-Unit Triplex Fixer-Upper

645 Maryland Street, Gary, IN 46402

$99,900

0.09 AC lot

Three-unit triplex with mechanical work completed and ready for drywall, offered for sale.

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Bi-Level Duplex With Two Units

1297-1299 W 15th Avenue, Gary, IN 46407

$97,500

Bi-level duplex with upper and lower units, offered as-is, suited for investors or owner-occupants seeking renovation value.

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Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 12 Active listings in Gary, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 60 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Residential Income Property with New Roof

2711 164th Place, Hammond, IN 46323

$160,000

0.11 AC lot

Mo-Mo leased tenants with long occupancies, plus basement possibilities and an exterior exit.

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Limestone Ranch Duplex with Finished Basement

704 N Oakwood Drive, Griffith, IN 46319

$315,000

0.39 AC lot

Two-unit limestone ranch includes a studio, two-bedroom, finished basement, 3-car garage, and conversion flexibility.

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3-Unit Residential Income Property

1533 N Broad Street, Griffith, IN 46319

$449,000

Three well-appointed units with in-unit laundry and recent upgrades, including multiple HVAC components and updated electrical.

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Residential Duplex with Basement Potential

2711 164th Place, Hammond, IN 46323

$165,000

Duplex for sale with a new roof, long-term tenant leases, and basement options with an exterior exit.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

University Park Developable Land

976 Mesa Court, University Park, IL 60484

Contact for pricing

3.20 AC lot

3.2 acres with 24 concrete housing pads in University Park.

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Wooded Homesite in Wheatfield, Indiana

4418 Oakland Court, Wheatfield, IN 46392

Contact for pricing

0.57 AC lot

Spacious, wooded 0.57-acre lot in established neighborhood.

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Land For Sale, Lakemoor, IL

27 Oyster Bay, Lakemoor, IL 60051

Contact for pricing

0.12 AC lot

Commercial land available in Lakemoor, Illinois.

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Deeded RV Recreational Lot

V/L E Kissing Oaks Trail, Custer, MI 49405

$39,900

0.96 AC lot

Deeded lot with a newly excavated site, entry, and driveway, backing Manistee National Forest.

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Off-Market Properties in Gary, IN

Consider similar Off-Market properties in Gary, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

APARTMENT HOUSE (UNDER 5 UNITS)

2450 County Line Rd, Lake Station, IN 46405-2676

Value Estimation by Request

3,392 sqft 0.36 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

304 6th Ave, Gary, IN 46402-2021

Value Estimation by Request

4,872 sqft 0.09 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

441 Connecticut St, Gary, IN 46402-1312

Value Estimation by Request

3,861 sqft 0.09 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

1510 86th Ln, Merrillville, IN 46410-6458

Value Estimation by Request

4,860 sqft 0.43 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

667 Van Buren St, Gary, IN 46402-2240

Value Estimation by Request

4,216 sqft 0.16 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

332 Brg St, Gary, IN 46404-1034

Value Estimation by Request

5,400 sqft 0.26 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

604 Kentucky St, Gary, IN 46402-2615

Unit 14

Value Estimation by Request

4,680 sqft 0.19 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

1381 Van Buren St, Gary, IN 46407-1126

Value Estimation by Request

4,942 sqft 0.17 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

702 72nd Ave, Merrillville, IN 46410-3624

Value Estimation by Request

6,882 sqft 0.43 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

5925 Jefferson St, Merrillville, IN 46410-2525

Unit 31

Value Estimation by Request

2,673 sqft 0.36 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

6833 Pierce Dr, Merrillville, IN 46410-3364

Value Estimation by Request

4,308 sqft 8.51 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

7025 Fillmore Dr, Merrillville, IN 46410-3361

Value Estimation by Request

4,308 sqft 8.51 AC lot

View details

Gary, IN Multifamily Properties Market Trends and Statistics

Explore 72 multifamily properties for sale in Gary, IN, showcased through 12 active listings on our real estate platform. These investment opportunities span a total of 6,457 square feet of properties for sale, with an estimated market value of $499,900.

Sale prices for multifamily properties in Gary, IN start at $499,900, averaging $499,900, and reaching up to $499,900 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 124K

Population Growth (5Y) -7.7%

Median Household Income $47,747

College Educated 15.8%

High-Yield Neighborhoods for Investment

Identify Gary submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46402	$159.9K
46407	$175K

Taxes & Financing

Tax Rate (average for all types) 7.93%

Property Tax per SF $79.79 per SF

Tax Rate vs County Average 6.93 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Lake County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Lake County

Retail

Property Size Breakdown

The majority of commercial real estate listings in Gary fall within the 50,000 to 100,000 square foot range.

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Gary, IN Multifamily Properties for Sale

2315 Industrial Boulevard, Gary, IN 46407

2023 Vermont Street, Gary, IN 46407

5512 Washington Street, Merrillville, IN 46410

351-353 Fillmore Street, Gary, IN 46402

7932-7934 Whitcomb Street, Merrillville, IN 46410

3725 Monroe Street, Gary, IN 46408

1297-1299 W 15th Avenue, Gary, IN 46407

3685 Massachusetts Street, Gary, IN 46409

126 E 73rd Avenue, Merrillville, IN 46410

1937 Martin Luther King Drive, Gary, IN 46407

645 Maryland Street, Gary, IN 46402

1297-1299 W 15th Avenue, Gary, IN 46407

Opportunities in Nearby Cities

2711 164th Place, Hammond, IN 46323

704 N Oakwood Drive, Griffith, IN 46319

1533 N Broad Street, Griffith, IN 46319

2711 164th Place, Hammond, IN 46323

Potential Development Sites for Consideration

976 Mesa Court, University Park, IL 60484

4418 Oakland Court, Wheatfield, IN 46392

27 Oyster Bay, Lakemoor, IL 60051

V/L E Kissing Oaks Trail, Custer, MI 49405

Off-Market Properties in Gary, IN

2450 County Line Rd, Lake Station, IN 46405-2676

304 6th Ave, Gary, IN 46402-2021

441 Connecticut St, Gary, IN 46402-1312

1510 86th Ln, Merrillville, IN 46410-6458

667 Van Buren St, Gary, IN 46402-2240

332 Brg St, Gary, IN 46404-1034

604 Kentucky St, Gary, IN 46402-2615

1381 Van Buren St, Gary, IN 46407-1126

702 72nd Ave, Merrillville, IN 46410-3624

5925 Jefferson St, Merrillville, IN 46410-2525

6833 Pierce Dr, Merrillville, IN 46410-3364

7025 Fillmore Dr, Merrillville, IN 46410-3361

Gary, IN Multifamily Properties Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

Average Property Price per SF

Retail

Property Size Breakdown

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