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Whiting Lofts 1423 119th St 8 Unit Apartment Building $1,400,000 ($175,000/Unit) 7.07% Cap Rate Whiting, IN 46394
INVESTMENT HIGHLIGHTS
- Fully Occupied With Room To Push Rents
- 30 Minutes To Downtown Chicago
- Condo Quality Finishes
- 3 Blocks From Lake Michigan
- Turn Key Asset
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase 1423 119th Street, an 8-unit mixed-use multifamily asset located in the heart of Whiting, Indiana. The property is situated just blocks from Lake Michigan and offers easy access to Chicago, making it an attractive location for both residents and retail tenants. Positioned along 119th Street, the asset benefits from proximity to local retail, dining, and major transportation routes.
1423 119th St. features a desirable unit mix of one (1) 3Bd/2Ba, two (2) 2Bd/1Ba, three (3) 2Bd/2Ba, and two (2) retail units. With the building being recently renovated, each apartment features updated quality finishes, including stainless steel appliances, updated bathrooms, copper plumbing, new electric service, and in unit washer & dryer.
The property presents an investor with the opportunity to acquire a well located mixed-use asset in a growing Northwest Indiana market. From day one the building offers a potential investor an opportunity to acquire a stable, cash-flowing asset at an in-place cap rate of 7%.
1423 119th St. features a desirable unit mix of one (1) 3Bd/2Ba, two (2) 2Bd/1Ba, three (3) 2Bd/2Ba, and two (2) retail units. With the building being recently renovated, each apartment features updated quality finishes, including stainless steel appliances, updated bathrooms, copper plumbing, new electric service, and in unit washer & dryer.
The property presents an investor with the opportunity to acquire a well located mixed-use asset in a growing Northwest Indiana market. From day one the building offers a potential investor an opportunity to acquire a stable, cash-flowing asset at an in-place cap rate of 7%.
PROPERTY FACTS
| Price | $1,400,000 | Building Class | C |
| Price Per Unit | $175,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 14,244 SF |
| Cap Rate | 7.07% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1902 |
| Property Subtype | Apartment | ||
| Zoning | C-DB-SZ Downtown Business | ||
| Price | $1,400,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 7.07% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 14,244 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1902 |
| Zoning | C-DB-SZ Downtown Business |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | 1,000 |
| 2+2 | 3 | - | 1,050 |
| 3+2 | 1 | - | 1,200 - 1,500 |
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Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 45-03-07-226-069.000-025 | Improvements Assessment | $1,062,000 |
| Land Assessment | $54,200 | Total Assessment | $1,116,200 |
PROPERTY TAXES
Parcel Number
45-03-07-226-069.000-025
Land Assessment
$54,200
Improvements Assessment
$1,062,000
Total Assessment
$1,116,200
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Whiting Lofts | 1423 119th St
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