14424 Morse Street, Cedar Lake, IN 46303
$1,490,000
Property Type:
Commercial Sale
Square Footage:
13,320
Lot Size (sq. ft.):
24,699
Status:
Active
Current Price:
$1,490,000
List Date:
7/14/2026
Last Modified:
7/27/2026
Overview
Description
Open Houses
- Friday, July 31, 1:00 pm - 2:30 pm
Listing Details MLS# 842277
General Property Information
- Number Of Units Total
- 16
- Living Area
- 13320
- Building Area Source
- Appraiser
- Year Built
- 1930
- Parking Total
- 26
- Lot Size Acres
- 0.567
- Lot Size Square Feet
- 24699
- Lot Size Source
- Appraiser
- Waterfront YN
- No
- Basement YN
- No
- Stories
- 2
Property Features
Appliances:
Other
Building Features:
Other
Business Type:
Other
Construction Materials:
Other
Cooling:
Central Air; Other
Current Use:
Multi-Family
Electric:
100 Amp Service
Exterior Features:
Other
Heating:
Forced Air; Other
Interior Features:
Other
Laundry Features:
Main Level
Listing Terms:
Cash; Conventional; Other
Lot Features:
Other
Owner Pays:
See Remarks
Possession:
Close Of Escrow
Rail Availability:
None
Roof:
Other
Sewer:
Public Sewer
Special Listing Conditions:
None
Tenant Pays:
Electricity; See Remarks
Utilities:
Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected; Other
Water Source:
Public
Contract Information
- Auction YN
- No
- Original List Price
- 1490000
- Property Sub Type
- Multi Family
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 14424
- Street Name
- Morse
- Street Suffix
- Street
- County
- Lake
- State
- IN
- Postal Code
- 46303
Remarks and Miscellaneous
- Public Remarks
- This exceptional investment opportunity offers 15 residential units and one retail space in the highly desirable and supply-constrained Cedar Lake rental market. Nearly all residential units have been recently renovated with modern finishes, providing investors with a turnkey asset that requires minimal immediate capital improvements. The property's strong in-place cash flow, significant unit count, and continued potential for future rent growth make it an outstanding opportunity for investors seeking both stability and long-term upside in one of Northwest Indiana's most sought-after rental markets.
Status Change Information
- Major Change Timestamp
- 2026-07-14T19:11:29Z
- Major Change Type
- New Listing
- Status Change Timestamp
- 2026-07-14
More Information
Exemption Information
- Exemption YN
- No
Income and Expenses
- Cap Rate
- 7.89
- Gross Income
- 194818
- Net Operating Income
- 114375
Showing Requirements
- Showing Instructions
- Please call broker with any questions/showings requests. We will be performing an open house in late July. It will be announced here.
Location, Tax, and Legal
- Tax Annual Amount
- 17973
- Tax Year
- 2024
- Tax Legal Description
- PT. GOV LOT 2 SE. NW. 103.98X238.71X102.41X238.71FT. S.35 T.34 R.9 .567AC.
- Parcel Number
- 451535185011000043
- Township
- Center
- Directions
- From Interstate 65, take Exit 240 (IN-231/Crown Point) and head west on IN-231. Continue for 8 miles, then turn left onto US-41. Travel about 3 miles before turning right onto W. 133rd Avenue. Turn left onto Morse Street. Property on right in 1 mile.
- Census Tract
- 432.01
Appliances
- Other
- Yes
Construction Materials
- Other
- Yes
Cooling
- Central Air
- Yes
- Other
- Yes
Electric
- 100 Amp Service
- Yes
Exterior Features
- Other
- Yes
Heating
- Forced Air
- Yes
- Other
- Yes
Interior Features
- Other
- Yes
Laundry Features
- Main Level
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Other
- Yes
Lot Features
- Other
- Yes
Possession
- Close Of Escrow
- Yes
Roof
- Other
- Yes
Sewer
- Public Sewer
- Yes
Special Listing Conditions
- None
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
- Other
- Yes
Water Source
- Public
- Yes
Owner Pays
- See Remarks
- Yes
Tenant Pays
- Electricity
- Yes
- See Remarks
- Yes
Current Use
- Multi-Family
- Yes
Building Features
- Other
- Yes
Business Type
- Other
- Yes
Rail Availability
- None
- Yes
Listing Office:
Ellsbury Group
Last Updated: July - 27 - 2026
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