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34418186
34418220

4 Locations For Sale

TS
IN RB20000815, IL 475192080
Ellsbury Group
AP
IN 475204625
Ellsbury Group
XL
RB22000768
Ellsbury Group
Listed by Ellsbury Group
$2,600,000
1 day on market
Updated 1 day ago

Idaho Ave 20 Unit Portfolio South Hammond

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 20,488
Units 20
Cap Rate 7.45%
NOI $193,786
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.03%
Pro-Forma NOI $208,805
Year Built 1978
Year Renovated 2025
Buildings 4
Stories 3

Multifamily | 20 Units | $130,000/unit

Marketing description

This offering presents a rare opportunity to acquire a portfolio of four well-maintained five-unit apartment buildings located in the South Hammond, Indiana submarket.

The properties may be purchased individually or as a portfolio, providing flexibility for investors seeking either a single asset or the opportunity to quickly expand their multifamily holdings. Each building consists of one spacious three-bedroom, two-bath apartment and four oversized one-bedroom, one-bath apartments.

The larger unit mix provides a unique appeal to a broad tenant base while offering above market rental income. Across the portfolio's 20 total units, 15 have been recently renovated with modern interior finishes, significantly reducing near-term capital expenditures.

Situated just minutes from major highways, employment centers, shopping, and the Illinois state line, the portfolio benefits from South Hammond's convenient location and consistent rental demand. The area's affordability compared to neighboring Chicago communities continues to attract both residents and investors, making these properties an attractive long-term investment.

Whether acquired individually or as a package, this portfolio offers investors the opportunity to purchase well-located multifamily assets with a combination of in-place cash flow, recent capital improvements, and additional upside through the renovation of the remaining units and continued rent optimization.

Investment highlights

  • Prime Location: Just 20 miles from Downtown Chicago with direct access to major highways.
  • Diverse Economy: Anchored by industry, education, healthcare, and entertainment sectors.
  • High Investor Demand: Business-friendly environment with low taxes and strong regional growth.
  • Ongoing Revitalization: Major public investment in infrastructure, transit, and downtown redevelopment.
  • Visitor Attractions: Casino, lakefront, and cultural venues drive consistent tourism.

Listing Contacts

TS
IN RB20000815, IL 475192080
Ellsbury Group
AP
IN 475204625
Ellsbury Group
XL
RB22000768
Ellsbury Group
Listed by Ellsbury Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$193,786.00
$16,148.83/mo

Valuation Metrics

0
DSCR
7.45%
Cap Rate
7.45%
ROI

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Additional Information

Name
Tariq Suboh
License
RB20000815
Brokerage
Ellsbury Commercial Group
Title
Founder / Managing Broker
Brokerage Address
9004 Cline Avenue
Name
Andy Page
License
475204625
Brokerage
Ellsbury Commercial Group
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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