

Listed by Ellsbury Group
$575,000
1291–1297 Lake Charles Ave
Details
APN 640334403004000026
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 5,320
Units 4
Beds 2
Cap Rate 7.10%
NOI $40,816
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.39%
Pro-Forma NOI $48,243
Price per SqFt $108
Year Built 1993
Buildings 1
Acreage 0.463
Investment Type Value Add
Multifamily | 7.10% CAP | 4 Units
Marketing description
Excellent investment opportunity to acquire a well-maintained 4-unit townhome community in the highly desirable Porter area, just minutes from the Indiana Dunes National Park, I-94, and the South Shore commuter rail. Built in 1993, each spacious unit features approximately 1,330 SF with 2 bedrooms, 1.5 bathrooms, open-concept living areas, vaulted ceilings, granite countertops, stainless steel appliances, private rear decks, and in-unit washer/dryer hookups. Each unit is individually metered with tenants responsible for electric, gas, water/sewer, and trash, minimizing owner expenses. Recent capital improvements include roof replacement, HVAC and water heater updates, and parking lot resurfacing. Current rents provide immediate cash flow with significant upside as rents move toward market levels. An outstanding value-add opportunity in one of Northwest Indiana's strongest rental markets.
Investment highlights
- 4 townhome-style units (built 1993) — spacious 2BR / 1.5BA layouts averaging 1,330 SF
- Private rear deck/balcony off the living area; in-unit washer/dryer hookups
- Open, vaulted main level with granite kitchen counters and stainless appliances
- Individually metered — tenants pay electric, gas, water/sewer & trash (low owner expense load)
- Individual furnace, A/C and water heater in every unit
- Recent capital: roof (2016), HVAC/water-heater replacements (2014–2021), lot repaved (2010)
- Value-add: ~$1,361 in-place rents vs. $1,600 market — ~18% upside to an 8.39% pro forma cap
- Minutes from I-94, US-20 & the Dune Park South Shore station; near Indiana Dunes National Park
Listing Contacts


Listed by Ellsbury Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$40,816.00
$3,401.33/mo
Valuation Metrics
0
DSCR
7.1%
Cap Rate
7.1%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Brokerage Address
Is there information that looks off?










