14424 Morse Street, Cedar Lake, IN 46303
$1,465,000
Property Type:
Commercial Sale
Square Footage:
13,320
Lot Size (sq. ft.):
24,699
Status:
Active
Current Price:
$1,465,000
List Date:
7/14/2026
Last Modified:
8/27/2026
Overview
Description
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
- 2026-08-27T11:30:49Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2026-08-27T11:30:49Z
- 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.
Listing Office:
Ellsbury Group
Last Updated: August - 27 - 2026
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