Lake Station, IN Residential Income Properties for Sale

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Updated: Aug 3

Remodeled Duplex with Two Garages

7932-7934 Whitcomb Street, Merrillville, IN 46410

$569,000

5,830 sqft 0.41 AC lot

5,830‑square‑foot duplex on 0.41 acres
Fully remodeled in 2021
One unit offers 4 bedrooms and 3 bathrooms; the second has 3 bedrooms and 3 bathrooms
3‑car garage for one unit and 2‑car garage with workshop for the other
Both units feature updated windows, bonus or flex space, and kitchen storage

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Updated: Oct 2

Six-Unit Mixed-Use Property

4683 Broadway, Gary, IN 46409

$399,900

9,000 sqft 0.20 AC lot

9,000‑square‑foot mixed‑use building on 0.2 acres
Three commercial spaces and three apartments: two two‑bedroom units and one one‑bedroom unit
Separately rented two‑car garage
Roof replaced in 2021; second‑floor windows installed in 2024
Boiler replaced in 2016

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Mixed-Use Property with Leased Spaces

2800 Dekalb Street, Lake Station, IN 46405

$550,000

1,005 sqft 0.16 AC lot

Two-level configuration combines four occupied commercial spaces with three leased residential units.

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6-Unit Apartment Building

1301 Pennsylvania St, Gary, IN 46407

$400,000

6,435 sqft

The apartment mix includes one-, two-, and three-bedroom layouts.

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Duplex with Finished Basement

7650 Harrison Street, Merrillville, IN 46410

$355,000

3,420 sqft 0.33 AC lot

Updated interiors include new carpeting, fresh paint, and a basement bar area.

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Updated Duplex with Heated Garage

8720 Jackson Street, Merrillville, IN 46410

$249,999

1,254 sqft 0.13 AC lot

Fresh interior finishes, private outdoor space, and no HOA support comfortable residential use in Merrillville.

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6-Unit Apartment Building

1301 Pennsylvania Street, Gary, IN 46407

$400,000

6,435 sqft 0.08 AC lot

A three-bedroom unit complements five smaller residences, with four apartments currently occupied.

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Leased Mixed-Use Property

2800 Dekalb St, Lake Station, IN 46405

$550,000

1,005 sqft

Two-level property combines leased commercial occupancy with residential units in Lake Station.

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Three-Bedroom Ranch Duplex

1150 W 86th Place, Merrillville, IN 46410

$299,999

1,230 sqft 0.14 AC lot

Ranch-style duplex with an attached two-car garage, private primary bath, patio, and finished laundry room.

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Two-Story Mixed-Use Property

2439 W 15th Avenue, Gary, IN 46404

$225,000

3,387 sqft 0.07 AC lot

Commercial restaurant and bar space occupies the first floor, with a separate residential unit above.

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Three-Unit Multifamily Property

3768 Jefferson St, Gary, IN 46408

$350,000

2,476 sqft

Two homes on separate parcels contain three living spaces, with independent entrances for each unit.

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Duplex Property with Open Floorplan

7808 Wright Street, Merrillville, IN 46410

$258,100

1,550 sqft 0.14 AC lot

The 2019 property offers three bedrooms, two bathrooms, public utilities, and a patio on a 0.14-acre lot.

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Under-Construction Duplex with Deck

3021 W 82nd Place, Merrillville, IN 46410

$367,400

2,600 sqft 0.20 AC lot

Two-level living includes cathedral ceilings, granite counters, upgraded finishes, and a private outdoor deck.

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Two-Story Mixed-Use Property

2439 W 15th Ave, Gary, IN 46404

$225,000

3,387 sqft

Commercial restaurant space occupies the ground floor, with a private-entry residential unit above.

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Renovated Triplex with Three Units

3768 Jefferson Street, Gary, IN 46408

$350,000

0.12 AC lot

Three separate living areas include kitchens, multiple entrances, and shared laundry access.

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Under-Construction Duplex

7123 Johnson Street, Merrillville, IN 46410

$278,685

1,469 sqft 0.14 AC lot

Modern residential property with an open floor plan, attached garage, and energy-efficient equipment.

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Brick Duplex With Mixed Unit Sizes

3725 Monroe St, Gary, IN 46408

$139,900

1,848 sqft

Two residential units offer distinct bedroom configurations within an all-brick income property.

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Two-Bedroom Duplex with Deck

8781 Monroe Street, Merrillville, IN 46410

$234,900

1,253 sqft 0.14 AC lot

Half-duplex residence with an eat-in kitchen, attached garage, and no HOA restrictions.

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Three-Unit Apartment Building

1653 W 10th Pl, Gary, IN 46404

$249,900

1,449 sqft

Two upper residences are vacant and ready for leasing, while the ground-level unit is occupied.

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Six-Unit Apartment Property

2315 Industrial Boulevard, Gary, IN 46407

$499,900

6,457 sqft 0.22 AC lot

Two-building multifamily asset with updated HVAC, public utilities, and a detached residential unit.

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Three-Unit Residential Property

1531 Van Buren St, Gary, IN 46407

Contact for pricing

1,104 sqft

Residential income property with potential for three separate rental units in Gary.

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Three-Unit Apartment Building

1653 W 10th Place, Gary, IN 46404

$249,900

0.06 AC lot

One residence is occupied, while two upper-level units are vacant and ready for leasing.

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2-Unit Duplex

1517 Delaware St, Gary, IN 46407

$79,900

1,800 sqft

Gary duplex with matching two-bedroom layouts and separate living, dining, and kitchen areas.

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Ranch Duplex with Corner Lot

1230 W 82nd Lane, Merrillville, IN 46410

$270,000

1,667 sqft 0.19 AC lot

Maintained duplex with an open interior, flexible third bedroom, and oversized two-car garage.

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Lake Station, IN Residential Income Properties Market Trends and Statistics

Explore 67 residential income properties for sale in Lake Station, IN, showcased through 47 active listings on our real estate platform. These investment opportunities span a total of 391,856 square feet of properties for sale, with an estimated market value of $12,665,082.

Sale prices for residential income properties in Lake Station, IN start at $49,900, averaging $294,536, and reaching up to $1,050,000 — 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 12K

Population Growth (5Y) +0.5%

Median Household Income $57,005

College Educated 13.0%

High-Yield Neighborhoods for Investment

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

Neighborhood	Average Price
46405	$550K

Taxes & Financing

Tax Rate (average for all types) 4.46%

Property Tax per SF $72.47 per SF

Tax Rate vs County Average 1.39 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)

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