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1080-1090 W 85th AVE Merrillville, IN 46410
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Key Details
Sold Price $1,325,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,624 sqft
Price per Sqft $153
Subdivision Sedona Add
MLS Listing ID 835664
Sold Date 05/29/26
Year Built 1999
Annual Tax Amount $10,644
Tax Year 2024
Lot Size 0.470 Acres
Acres 0.47
Property Sub-Type Multi Family
Property Description
This offering presents a well-maintained Class A 8-unit multifamily asset in the stable Northwest Indiana rental market. Built in 1999 as condominium units, the property features efficient 2-bedroom / 1.5 -bathroom floor plans of approximately 1,100 square feet with modern finishes, stainless steel appliances, and washer/dryer hookups. Major exterior improvements completed in 2021, including roof, windows, siding, and gutters. Tenants are responsible for electricity and gas/heat. Ownership is responsible for common electric, trash, and water. With average rents of approximately 1,550 dollars per unit and a 7.2 percent Day-1 cap rate, the asset offers strong in-place cash flow and upside potential in a supply-constrained submarket.
Location
State IN
County Lake
Interior
Heating Forced Air, Natural Gas
Fireplace N
Exterior
View Y/N true
View true
Others
Tax ID 451228126020000030
Acceptable Financing NRA20260318183355014430000000
Listing Terms NRA20260318183355014430000000
Financing Conventional
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Bought with Non Member