7050 Idaho Avenue, Hammond, IN 46323
$650,000
Property Type:
Commercial Sale
Square Footage:
5,220
Lot Size (sq. ft.):
7,601
Status:
Active
Current Price:
$650,000
List Date:
7/15/2026
Last Modified:
8/01/2026
Listing Details MLS# 842304
General Property Information
- Number Of Units Total
- 5
- Living Area
- 5220
- Building Area Source
- Appraiser
- Year Built
- 1978
- Parking Total
- 6
- Lot Size Acres
- 0.1745
- Lot Size Square Feet
- 7601
- Lot Size Source
- Appraiser
- Waterfront YN
- No
- Basement YN
- No
- Stories
- 3
Property Features
Building Features:
Other
Business Type:
Other
Construction Materials:
Other
Cooling:
Central Air; Other
Current Use:
Multi-Family
Electric:
100 Amp Service
Heating:
Baseboard; Other
Laundry Features:
Lower Level
Listing Terms:
Cash; Conventional; 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
Water Source:
Public
Contract Information
- Auction YN
- No
- Original List Price
- 650000
- Property Sub Type
- Multi Family
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 7050
- Street Name
- Idaho
- Street Suffix
- Avenue
- County
- Lake
- State
- IN
- Postal Code
- 46323
Remarks and Miscellaneous
- Public Remarks
- This offering presents a rare opportunity to acquire a portfolio of four well-maintained five-unit apartment buildings located in the South Hammond, Indiana submarket. The properties may be purchased individually or as a portfolio, providing flexibility for investors seeking either a single asset or the opportunity to quickly expand their multifamily holdings. Each building consists of one spacious three-bedroom, two-bath apartment and four oversized one-bedroom, one-bath apartments. The larger unit mix provides a unique appeal to a broad tenant base while offering above market rental income. Across the portfolio's 20 total units, 15 have been recently renovated with modern interior finishes, significantly reducing near-term capital expenditures. Situated just minutes from major highways, employment centers, shopping, and the Illinois state line, the portfolio benefits from South Hammond's convenient location and consistent rental demand. The area's affordability compared to neighboring Chicago communities continues to attract both residents and investors, making these properties an attractive long-term investment. Whether acquired individually or as a package, this portfolio offers investors the opportunity to purchase well-located multifamily assets with a combination of in-place cash flow, recent capital improvements, and additional upside through the renovation of the remaining units and continued rent optimization. Other addresses: 7027 Parrish Ave, 7105 Parrish Ave, 7100 Idaho Ave. All are in Hammond on the same block.
Status Change Information
- Major Change Timestamp
- 2026-07-15T12:31:28Z
- Major Change Type
- New Listing
- Status Change Timestamp
- 2026-07-15
More Information
Exemption Information
- Exemption YN
- No
Income and Expenses
- Cap Rate
- 7.62
- Net Operating Income
- 49508
Showing Requirements
- Showing Instructions
- Please call listing broker for any questions. Open house will be held in late July. Date/time will be announced here.
Location, Tax, and Legal
- Tax Annual Amount
- 8211
- Tax Year
- 2025
- Tax Legal Description
- PARRISH PARK LOT 5
- Parcel Number
- 450710302008000023
- Township
- North
- Directions
- From I-80/I-94, take Exit 2 north on Cline Avenue. Continue for approximately 1.5 miles, then turn left onto 169th Street. Drive about 0.8 miles and turn right onto Idaho Avenue.
- Census Tract
- 220
Construction Materials
- Other
- Yes
Cooling
- Central Air
- Yes
- Other
- Yes
Electric
- 100 Amp Service
- Yes
Heating
- Baseboard
- Yes
- Other
- Yes
Laundry Features
- Lower Level
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- 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
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: August - 01 - 2026
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