2063 West 86th Avenue

Merrillville, IN 46410

$1,680,000
Price
24
Beds
16
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Turnkey, updated, and stable investment opportunity! Built in 2003, these 4 fully occupied duplexes (8 total residential units) have been very well updated and maintained. The current annual gross rental income from all 8 units is $175,000. Each (half duplex) unit has 3 bedrooms, 2 bathrooms, an attached 2+ car garage, stainless steel appliances - including dishwasher and built in microwave, modern updates and layouts. Roofs, windows, and patio doors were replaced in 2022. Tenants pay the gas, electricity,...Turnkey, updated, and stable investment opportunity! Built in 2003, these 4 fully occupied duplexes (8 total residential units) have been very well updated and maintained. The current annual gross rental income from all 8 units is $175,000. Each (half duplex) unit has 3 bedrooms, 2 bathrooms, an attached 2+ car garage, stainless steel appliances - including dishwasher and built in microwave, modern updates and layouts. Roofs, windows, and patio doors were replaced in 2022. Tenants pay the gas, electricity, and water utility bills. This is currently a very low maintenance, turnkey asset that has great upside and long-term benefits. It currently sits at a 6.2% cap rate, and projects to a 7+% cap after rent stabilization. Reach out to an agent for more detailed income and expense information, and for viewing times.
  1. Listed by Tariq Suboh • Ellsbury Commercial Group LLC
    P: (219) 805-5200 C: (219) 805-5200 Tariq@EllsburyGroup.com
  2. Listed by Farris Gosea
    P: (217) 904-8983 C: (217) 904-8983 FarrisGosea3@gmail.com

Property Details for 2063 West 86th Avenue

Subdivision
Maricopa Point of Sedona
Garage # of Cars
3

Location

Listing Courtesy of Ellsbury Commercial Group LLC
Add your commute
LISTING UPDATED: 04/30/2024 09:17 AM

Property Details for 2063 West 86th Avenue

StatusPending
MLS #802594
Days on Market6
Taxes$28,403 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built2003
Lot Size0.26 AC / 11,325 SF
CountyLake County

Location

Listing Courtesy of Ellsbury Commercial Group LLC
Add your commute

Building Information for 2063 West 86th Avenue

Stories-Residences8Year Built2003Building Size-Lot Size0.26 AC / 11,325 SF

Payment Calculator

$11,535 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,168

Property Taxes

$2,367

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2063 West 86th Avenue

Summary
Location and General Information
  • City/Town: Merrillville
  • State: IN
  • Township: Ross
  • ZIP: 46410
  • Latitude: 41.46
  • Longitude: -87.36
  • County: Lake
Taxes and HOA
  • Annual Tax Amount: $28,403.00
  • APN/Key #: 45-12-29-227-003.000-030
  • Tax Year: 2023
  • Tax Legal Description: MARICOPA POINTE OF SEDONA UNIT NINE LOT 920MARICOPA POINTE OF SEDONA UNIT NINE LOT 919MARICOPA POINTE OF SEDONA UNIT NINE LOT 926MARICOPA POINTE OF SEDONA UNIT NINE LOT 929
School Information
  • School District: Merrillville
Parking
  • Garage Description: Driveway, Paved
Property
Lot Information
  • Lot Measurement: Acres
  • Lot Square Footage: 11,325.60
  • Square Footage Source: Assessor
  • Acres: .26
Property and Assessments
  • Property Type: Residential Income
  • Property Subtype 1: Duplex
  • Year Built: 2003
  • Lot Description: Level
  • Road Access: City Street
Interior and Exterior Features
Exterior Features
  • Exterior Features: Rain Gutters
  • Levels: One
Interior Features
  • Appliances: Dishwasher, Dryer, Free-Standing Gas Range, Microwave, Refrigerator, Washer
  • Total Full Baths: 16
  • Bedrooms: 24
  • Basement Sq Ft: 0.0
  • Cooling: Central Air
  • Flooring: Carpet, Tile
  • Heat Type: Forced Air, Natural Gas
  • Interior Features: None
  • Roof: Asphalt, Shingle
Multi Family
Multi-Family Information
  • # of Units: 8
Rental
Rental Information
  • TenantPays: Electricity, Gas, Water

Property History for 2063 West 86th Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2063 West 86th Avenue

Taxable ValueLand$63,700Additions$254,400Total$318,100
Tax Record2022$5,796 ($483 / month)
Home Facts
Beds3Baths4Total Finished SqFt1,240 SqFtAbove Grade Finished SqFt1,240 SqFtStories1Lot Size11,326 SqFtStyleCondominiumYear Built2003CountyLAKEAPN45-12-29-227-003.000-030

Schools near 2063 West 86th Avenue

This home is within Merrillville Community School.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - 5 to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Homer Iddings Elementary School
PublicK to 4

Merrillville Intermediate School
Public5 to 6

Pierce Middle School
Public7 to 8

Merrillville High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Ellsbury Commercial Group LLC

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS, Northwest Indiana REALTORS® Association Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association, Northwest Indiana REALTORS® AssociationSoutheastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.