www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
34367169
34367168

1291-1297 Lake Charles Avenue, Porter, IN 46304 For Sale

TS
IN RB20000815, IL 475192080
Ellsbury Group
Listed by Ellsbury Group
$575,000
4 days on market
Updated 2 days ago

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
Icon
Powered by Northwest Indiana Association of Realtors
Learn More

Listing Contacts

TS
IN RB20000815, IL 475192080
Ellsbury Group
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

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Tariq Suboh
License
RB20000815
Brokerage
Ellsbury Commercial Group
Title
Founder / Managing Broker
Brokerage Address
9004 Cline Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591