1080-1090 W 85th Avenue, Merrillville, IN 46410 (MLS# 835664)

1080-1090 W 85th Avenue, Merrillville, IN 46410

$1,350,000

Property Type: Commercial Sale Square Footage: 8,624 Lot Size (sq. ft.): 20,473 Status: Pending

Current Price: $1,350,000 List Date: 3/18/2026 Last Modified: 4/05/2026

Overview

Description

This offering presents a well-maintained Class A 8-unit multifamily asset in the stable Northwest Indiana rental market. Built in 1999 as condominium units, the property features efficient 2-bedroom / 1.5 -bathroom floor plans of approximately 1,100 square feet with modern finishes, stainless steel appliances, and washer/dryer hookups. Major exterior improvements completed in 2021, including roof, windows, siding, and gutters. Tenants are responsible for electricity and gas/heat. Ownership is responsible for common electric, trash, and water. With average rents of approximately 1,550 dollars per unit and a 7.2 percent Day-1 cap rate, the asset offers strong in-place cash flow and upside potential in a supply-constrained submarket.

Listing Details MLS# 835664

General Property Information

Number Of Units Total: 8
Living Area: 8624
Building Area Source: Assessor
Year Built: 1999
Parking Total: 23
Lot Size Acres: 0.47
Lot Size Square Feet: 20473
Lot Size Source: Assessor
Waterfront YN: No
Basement YN: No
Stories: 2

Property Features

Building Features: Multi Tenant Business Type: Other Construction Materials: Vinyl Siding Cooling: Central Air Current Use: Multi-Family Electric: 200+ Amp Service Heating: Forced Air; Natural Gas Listing Terms: Cash; Other Owner Pays: Common Area Maintenance; Sewer; Trash Collection; Water Parking Features: Asphalt; Off Street Possession: Close Of Escrow; Negotiable; Subject To Tenant Rights Possible Use: Multi-Family Rail Availability: None Roof: Shingle Sewer: Public Sewer Special Listing Conditions: Agent Owned / Interest Tenant Pays: Electricity; Gas Utilities: Cable Available; Cable Connected; Electricity Available; Electricity Connected; Natural Gas Connected; Sewer Available; Sewer Connected; Water Available; Water Connected View: Neighborhood Water Source: Public

Contract Information

Auction YN: No
Original List Price: 1350000
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant

Location Tax and Legal

Street Number: 1080-1090
Street Direction Prefix: W
Street Name: 85th
Street Suffix: Avenue
County: Lake
State: IN
Postal Code: 46410
Subdivision Name: Sedona Add

Remarks and Miscellaneous

Public Remarks: This offering presents a well-maintained Class A 8-unit multifamily asset in the stable Northwest Indiana rental market. Built in 1999 as condominium units, the property features efficient 2-bedroom / 1.5 -bathroom floor plans of approximately 1,100 square feet with modern finishes, stainless steel appliances, and washer/dryer hookups. Major exterior improvements completed in 2021, including roof, windows, siding, and gutters. Tenants are responsible for electricity and gas/heat. Ownership is responsible for common electric, trash, and water. With average rents of approximately 1,550 dollars per unit and a 7.2 percent Day-1 cap rate, the asset offers strong in-place cash flow and upside potential in a supply-constrained submarket.

Status Change Information

Major Change Timestamp: 2026-04-05T13:11:40Z
Major Change Type: Status Change
Status Change Timestamp: 2026-04-05
Offer Acceptance Date: 2026-04-04

More Information

Exemption Information

Exemption YN: No

Showing Requirements

Showing Instructions: Property tours on Wednesday, March 25th 2026 from 2pm-4:30pm only. Do not disturb tenants.

Location, Tax, and Legal

Tax Annual Amount: 10644
Tax Year: 2024
Tax Legal Description: SEDONA ADDITON UNIT 1 PT. SE'LY OF OUTLOT A (11.66X250.35X22.91X242.33FT)
Parcel Number: 451228126020000030
Additional Parcels YN: Yes
Additional Parcels Description: 451228126019000030
Township: Ross
Directions: US65 South to Route 30 West. Left onto Merrillville Rd then a right onto 86th Ave then immediate right onto 85th.
Census Tract: 425.09

Construction Materials

Vinyl Siding: Yes

Cooling

Central Air: Yes

Electric

200+ Amp Service: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Listing Terms

Cash: Yes
Other: Yes

Parking Features

Asphalt: Yes
Off Street: Yes

Possession

Close Of Escrow: Yes
Negotiable: Yes
Subject To Tenant Rights: Yes

Roof

Shingle: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Agent Owned / Interest: Yes

Utilities

Cable Available: Yes
Cable Connected: Yes
Electricity Available: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Available: Yes
Sewer Connected: Yes
Water Available: Yes
Water Connected: Yes

View

Neighborhood: Yes

Water Source

Public: Yes

Owner Pays

Common Area Maintenance: Yes
Sewer: Yes
Trash Collection: Yes
Water: Yes

Tenant Pays

Electricity: Yes
Gas: Yes

Current Use

Multi-Family: Yes

Possible Use

Multi-Family: Yes

Building Features

Multi Tenant: Yes

Business Type

Other: Yes

Rail Availability

None: Yes

Listing Office: Ellsbury Group

Last Updated: April - 05 - 2026

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