1080 W 85th Ave - Apartments FOR SALE


Merrillville, IN 46410
$1,350,000 USD
219-805-5200
1080 W 85th Ave, Merrillville, IN for Sale
$1,350,000 USD
Apartments - FOR SALE
1/13
null | 7.18% Cap Rate

1080 W 85th Ave
Merrillville, IN 46410


OVERVIEW

This offering presents a well-maintained Class A, 8-unit multifamily asset located in the stable Northwest Indiana rental market. Built in 1999 as condominium units, the property features efficient 2 bed / 1.5 bath floor plans averaging approximately 1,100 square feet, with modern finishes, stainless steel appliances, and washer/dryer hookups. The property underwent major exterior improvements in 2021, including a new roof, windows, siding, and gutters. Tenants are responsible for electricity and gas/heat, while ownership covers common electric, trash, and water, supporting efficient operations. With average rents of approximately $1,560 per unit and a 7.2% Day-1 cap rate, the asset offers strong in place cash flow along with upside potential in a supply-constrained submarket.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$157 USD /SF

# OF UNITS

8

PRICE/UNIT

$168,750

CAP RATE

7.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,254 SF

ZONING

R33

APN/PARCEL ID

45-12-28-126-019.000-030,45-12-28-126-020.000-030

ASK ABOUT THIS PROPERTY

Tariq SubohEllsbury Commercial GroupMore Info
219-805-5200

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Tariq SubohEllsbury Commercial GroupMore Info
219-805-5200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.