Multifamily Property for Sale in Crown Point, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Crown Point, IN 46307

Description

Marcus & Millichap is pleased to present a four-property portfolio of 118 apartment units located in northwest Indiana including the cities of Crown Point, Highland, and Griffith, all located in Lake County. Northwest Indiana is known for its proximity to Chicago, offering a mix of suburban and small-town living with access to urban amenities. Three out of four properties are located within one mile of each other, while the fourth is approximately eight miles away. Residents enjoy access to a diverse mix of commercial areas with restaurants, shops, and entertainment options as well as the local schools, recreational parks, and festivals. This portfolio consists of 54 one-bedroom / one-bathroom units (approximately 716 square feet), 50 two-bedroom / one-bathroom units (approximately 886 square feet), and 14 two-bedroom / two-bathroom units (approximately 1,200 square feet). Units throughout the portfolio feature select upgrades including upgraded kitchens and bathrooms, new flooring, and refreshed hallways and common areas. Tenants are responsible for paying heat and electric at each property. Here, a new investor has to opportunity to acquire a well-maintained portfolio in a strong northwest Indiana rental market. A new owner has the ability to increase cash flow through continued unit renovation. Investment Highlights: • Four Apartment Properties Located in Northwest Indiana • Gross Rents Have Increased By Double-Digit Percentages Year-Over-Year Over the Preceding Five Years • Low NW Indiana Real Estate Taxes • Tenant-Paid Utilities • Ample Off-Street Parking • On-Site Coin-Operated Laundry • OM Contains the Past Three Years of Ownership's Actual Income and Expenses, Including Cap Ex

Market Context

This multifamily in Crown Point, IN is listed for sale. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Crown Point, IN — <a href="/search/sale/multifamily/indiana/crown-point">view the full market</a>.

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