833 114Th St Whiting, IN 46394

This exceptional 8-unit apartment building, located at 833 114th Street in Whiting, Indiana, presents a compelling investment opportunity. The property boasts 7,000 square feet of net rentable space within an 8,000-square-foot, two-story brick building situated on a 0.6-acre lot. Built in 1920, this well-maintained property features eight one-bedroom, one-bathroom units and an on-site laundry facility. Its prime location offers convenient access to major highways (I-90, US 41, and US 20), placing it within easy reach of downtown Chicago via the nearby Hammond-Whiting Station, which provides South Shore Commuter Train and Amtrak service. The property benefits from its proximity to a densely populated residential neighborhood, major employers including BP, Arcelor Mittal, and United States Steel Corporation, and numerous amenities such as Walmart, Strack & Van Til, and various restaurants. The asking price is $700,000, representing $87,500 per unit and a price per square foot of $100. The property generates a strong net operating income (NOI) of $55,615, resulting in a 7.94% capitalization rate. Current rents are below market rates, presenting significant upside potential for increased profitability. The strong rental demographic, with over 40,200 people living within a 3-mile radius and an average household income of $88,917, further enhances the investment appeal. This property offers a blend of strong cash flow, location advantages, and potential for future appreciation.