6016 W 41st Ave - Calumet Township 4 Unit 4 Unit Apartment Building Offered at $439,362 CAD at a 7.06% Cap Rate Gary, IN 46408

Discover an exceptional investment opportunity with this well-maintained four-unit property in Calumet Township, ideally located at 6016 W 41st St. Consisting of two spacious 2-bed/1-bath units and two efficient 1-bed/1-bath units, the building offers a balanced and highly rentable unit mix. Sitting on a generous 0.59-acre lot, the property features 2,813 sq ft of living space with an average unit size of 705 sq ft, all on a single level for ease of access and maintenance. Built in 1967 and thoughtfully updated over time, the asset benefits from separately metered utilities, with tenants responsible for gas, electric, and trash—keeping operating costs low for the owner. Water and common-area electric are the only owner-paid utilities, and each unit includes individual furnaces and water heaters. With stable tenancy and strong market demand in this pocket of Lake County, this property offers investors immediate cash flow and long-term upside in a growing rental corridor.
6016 W 41st St offers high occupancy and stable performance across its four-unit building, featuring an average unit size of approximately 710 sq ft with a balanced mix of two 2-bedroom units and two 1-bedroom units. The asset delivers a strong day-one cap rate of nearly 7%, with the pro forma cap rate rising to 8.39% as rents continue to trend upward. Current annual income is approximately $44,000, with a one-year pro forma of around $48,000, supported by low operating expenses that enhance overall cash flow and investor returns.