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19 Rimbach St 4 Unit Apartment Building $275,500 ($68,875/Unit) Hammond, IN 46320
Investment Highlights
- Five-unit multifamily asset in Hammond’s revitalizing downtown, featuring four one-bedroom units plus a detached rear structure on a compact 0.05-acre
- Built in 1897 and well maintained, offering stable in-place income and reliable tenant retention.
- Rear structure offers a unique opportunity for a four-bedroom conversion, projected to achieve ~$1,600+ per month and significantly boost cash flow.
- One-bedroom units average 625 SF, remain fully occupied, and benefit from strong rental demand in a walkable location.
- Below-market rents create clear value-add potential through modest interior upgrades.
Executive Summary
Kiser Group is pleased to present 19 Rimbach Street, a five-unit multifamily asset located in the heart of Hammond’s revitalizing downtown corridor. The property includes four one-bedroom units in the front building and a four bedroom-unit in the detached rear structure, all situated on a 0.05-acre parcel. The one-bedroom units average 625 square feet and remain fully occupied, supported by strong rental demand and an efficient, walkable location.
Built in 1897 and well maintained, the property provides stable in-place income with clear value-add potential. Current rents sit below local benchmarks, allowing for upside through modest interior improvements. The rear structure presents a unique opportunity to convert the space into a four-bedroom rental unit, which could generate approximately $1,600+ per month, materially enhancing overall cash flow.
Built in 1897 and well maintained, the property provides stable in-place income with clear value-add potential. Current rents sit below local benchmarks, allowing for upside through modest interior improvements. The rear structure presents a unique opportunity to convert the space into a four-bedroom rental unit, which could generate approximately $1,600+ per month, materially enhancing overall cash flow.
Property Facts Under Contract
| Price | $275,500 | Building Class | C |
| Price Per Unit | $68,875 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,900 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1897 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $275,500 |
| Price Per Unit | $68,875 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,900 SF |
| No. Stories | 2 |
| Year Built | 1897 |
| Opportunity Zone |
Yes |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 45-02-36-152-017.000-023 | Improvements Assessment | $62,300 |
| Land Assessment | $22,800 | Total Assessment | $85,100 |
Property Taxes
Parcel Number
45-02-36-152-017.000-023
Land Assessment
$22,800
Improvements Assessment
$62,300
Total Assessment
$85,100
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19 Rimbach St
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