Property Details
Sale Price: $1,950,000
Property Type: Multifamily
Building Size: 10,368 SF
Property Description
Latitude Commercial is pleased to present a portfolio of two multifamily apartment buildings. 4735 Hohman Avenue consists of five 1 bedroom 1 bath apartments. This property generates $51,084 gross annually. 261-263 Webb Street consists of eight 2 bedroom 2 bath apartments. This property generates $139,260 gross annually. Tenants pay their own gas and electric services. Both properties were recently renovated with a new roof, windows, mechanicals, plumbing, electric, appliances, and parking lot. Financials available upon request.
Location Description
These two properties are located near Downtown Hammond. Hammond is a city in Lake County, Indiana. It is part of the Chicago metropolitan area, and the only city in Indiana to border Chicago. The 2020 population was 77,879. From north to south, Hammond runs from Lake Michigan down to the Little Calumet River; from east to west along its southern border, it runs from the Illinois state line to Cline Avenue. The city is traversed by numerous railroads and expressways, including the South Shore Line, Borman Expressway, and Indiana Toll Road. Notable local landmarks include the parkland around Wolf Lake and the Horseshoe Hammond riverboat casino. Hammond is also home to a Purdue University campus and numerous historic districts that showcase the residential and commercial architecture of the early 20th century.
Highlights
- Portfolio of two multifamily properties for sale
- The two properties combined generate $190,344 gross annually
- Both properties are recently renovated with a new roof, windows, mechanicals, plumbing, electrical, appliances, parking lots, etc.
- Both properties fully leased with stable tenants
- Private parking lots
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