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

$1,325,000
Property Type: Commercial Sale Square Footage: 8,624 Lot Size (sq. ft.): 20,473 Status: Closed
Current Price: $1,325,000 List Date: 3/18/2026 Last Modified: 5/29/2026

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
2026-05-29T17:50:04Z
Major Change Type
Status Change
Status Change Timestamp
2026-05-29
Offer Acceptance Date
2026-04-04
Close Date
2026-05-29
Close Price
1325000
Concessions
No
Buyer Financing
Conventional

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.
Listing Office: Ellsbury Group
Last Updated: May - 29 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2024 Triangle MLS, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
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